Tonix Pharmaceuticals Holding Corp. (TNXP) Volatility Spurs A Quest For Clarity


Citadel Advisors LLC recently announced the acquisition of new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP). The institutional investor has increased its shareholding in the Healthcare company by 427.34% to 0.44 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 0.35% valued currently at $0.57 million. In addition, Bridgeway Capital Management, Inc.. raised its holdings by 0.26 million to 0.26 million shares. And Geode Capital Management LLC has lifted its position by 26.22% or 22147.0 shares – to 0.11 million shares.

With over 4.99 million Tonix Pharmaceuticals Holding Corp. (TNXP) shares trading Monday and a closing price of $0.89 on the day, the dollar volume was approximately $4.44 million. The shares have shown a positive weekly performance of 5.97% and its price on 08/31/20 lost nearly -7.66%. Currently, there are 130.27M common shares owned by the public and among those 130.13M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TNXP have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Tonix Pharmaceuticals Holding Corp. stock is 2.00 for the next 12 months. But an upside of 70.33% will see the stock hit the forecast high price target while mean target price for the stock is $3.00.

Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 45,241 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Tonix Pharmaceuticals Holding Corp. are Vanguard Extended Market Index Fu, Bridgeway Ultra Small Company Mar, and Fidelity Extended Market Index Fu. Vanguard Extended Market Index Fu owns 0.44 million shares of the company’s stock, all valued at over $0.57 million. The company bought an additional 61080.0 shares recently to bring their total holdings to about 0.35% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.07% of the shares outstanding.

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) opened at $0.9517, down -$0.01 from a prior closing price of $0.96. However, the script later closed the day at $0.89, down -7.66%. The company’s stock has a 5-day price change of 5.97% and 33.82% over the past three months. TNXP shares are trading -24.34% year to date (YTD), with the 12-month market performance down to -79.51% lower. It has a 12-month low price of $0.39 and touched a high of $5.38 over the same period. Currently, 4.99 million shares have been traded, compared to an average intraday trading volume of 25.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.15%, -5.23%, and -7.00% respectively.

Institutional ownership of Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) shares accounts for 3.50% of the company’s 130.27M shares outstanding. Mutual fund holders own 0.58%, while other institutional holders and individual stakeholders account for 0.60% and 0.11% respectively.

It has a market capitalization of $116.77M and a beta (3y monthly) value of 1.68. The earnings-per-share (ttm) stands at -$59.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.07% over the week and 10.85% over the month.

Analysts forecast that Tonix Pharmaceuticals Holding Corp. (TNXP) will achieve an EPS of -$0.16 for the current quarter, -$0.16 for the next quarter and -$0.48 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was -$5.69 a year ago. Earnings per share for the fiscal year are expected to increase by 92.80%, and 36.00% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Tonix Pharmaceuticals Holding Corp. (TNXP) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the TNXP, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on April 18, 2019, with the firm’s price target at $4. ROTH Capital coverage for the Tonix Pharmaceuticals Holding Corp. (TNXP) stock in a research note released on August 18, 2017 offered a Buy rating with a price target of $6. ROTH Capital was of a view on September 07, 2016 that the stock is Neutral, while Oppenheimer gave the stock Outperform rating on February 17, 2016, issuing a price target of $18- $10. Cantor Fitzgerald on their part issued Buy rating on November 04, 2015.


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