Tonix Pharmaceuticals (TNXP) Hits New 52-Week Low at $1.63

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $1.63 and last traded at $1.68, with a volume of 1880 shares changing hands. The stock had previously closed at $1.80.

Several research firms have recently commented on TNXP. Roth Capital upgraded Tonix Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday, April 18th. ValuEngine upgraded Tonix Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.

The company has a market cap of $10.66 million, a P/E ratio of -0.06 and a beta of 1.86.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.11). Research analysts anticipate that Tonix Pharmaceuticals Holding Corp will post -3.99 earnings per share for the current fiscal year.

In other news, CEO Seth Lederman acquired 25,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of $2.38 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,767 shares of the company’s stock, valued at approximately $4,205.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.07% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in Tonix Pharmaceuticals during the first quarter worth $29,000. Citigroup Inc. bought a new position in Tonix Pharmaceuticals during the fourth quarter worth $34,000. Dimensional Fund Advisors LP bought a new position in Tonix Pharmaceuticals during the first quarter worth $39,000. CVI Holdings LLC bought a new position in Tonix Pharmaceuticals during the fourth quarter worth $36,000. Finally, Bank of New York Mellon Corp bought a new position in Tonix Pharmaceuticals during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 8.60% of the company’s stock.

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Tonix Pharmaceuticals Company Profile (NASDAQ:TNXP)

Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, focuses on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense. Its lead product candidate is Tonmyar (TNX-102 SL), a proprietary low-dose cyclobenzaprine and sublingual tablet as a bedtime administration, which is in Phase III development for the treatment of posttraumatic stress disorder (PTSD) and Fibromyalgia; and Phase II development for the treatment of agitation in Alzheimer's disease.

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