Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 9.8%

Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) traded up 9.8% during trading on Wednesday . The stock traded as high as $0.90 and last traded at $0.88. 8,346,900 shares traded hands during trading, a decline of 40% from the average session volume of 13,870,758 shares. The stock had previously closed at $0.80.

Separately, Alliance Global Partners increased their price objective on Tonix Pharmaceuticals from $2.50 to $3.00 in a research report on Thursday, August 20th.

The company has a market capitalization of $114.44 million, a P/E ratio of -0.10 and a beta of 1.63. The firm has a 50-day moving average price of $1.00 and a two-hundred day moving average price of $0.81.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, equities analysts expect that Tonix Pharmaceuticals Holding Corp will post -0.59 EPS for the current fiscal year.

In other news, CEO Seth Lederman bought 60,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $0.91 per share, with a total value of $54,600.00. Following the completion of the transaction, the chief executive officer now directly owns 177 shares in the company, valued at $161.07. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 95,391 shares of company stock valued at $89,879. 0.15% of the stock is owned by company insiders.

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. Jane Street Group LLC acquired a new stake in shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 62,008 shares of the company’s stock, valued at approximately $38,000. Institutional investors and hedge funds own 1.13% of the company’s stock.

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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