Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Sees Large Increase in Short Interest

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,930,000 shares, a growth of 45.1% from the September 15th total of 1,330,000 shares. Approximately 22.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 22.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

TNXP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Friday. Wall Street Zen lowered Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new position in shares of Tonix Pharmaceuticals in the 3rd quarter valued at about $358,000. Tower Research Capital LLC TRC increased its holdings in shares of Tonix Pharmaceuticals by 108.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,172 shares of the company’s stock valued at $258,000 after acquiring an additional 3,731 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at about $149,000. Finally, JT Stratford LLC purchased a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at about $232,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Price Performance

TNXP stock opened at $19.49 on Friday. The firm has a market capitalization of $170.93 million, a P/E ratio of -0.49 and a beta of 1.87. The business’s 50-day moving average is $26.28 and its two-hundred day moving average is $30.73. Tonix Pharmaceuticals has a 1 year low of $6.76 and a 1 year high of $130.00.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, August 11th. The company reported ($3.86) EPS for the quarter, missing analysts’ consensus estimates of ($3.10) by ($0.76). Tonix Pharmaceuticals had a negative net margin of 828.22% and a negative return on equity of 57.93%. The business had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $2.60 million. On average, analysts expect that Tonix Pharmaceuticals will post -1762.5 EPS for the current year.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.