Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Short Interest Down 76.0% in July

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 429,600 shares, a decline of 76.0% from the June 30th total of 1,790,000 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,480,000 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Armistice Capital LLC lifted its stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 160.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,770,000 shares of the company’s stock after buying an additional 2,320,000 shares during the period. Armistice Capital LLC owned approximately 14.09% of Tonix Pharmaceuticals worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission. 82.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Alliance Global Partners boosted their price target on shares of Tonix Pharmaceuticals from $6.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research note on Friday, June 14th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ:TNXP traded down $0.03 during trading on Friday, reaching $0.55. 1,881,410 shares of the stock were exchanged, compared to its average volume of 3,504,322. The firm has a market cap of $1.64 million, a PE ratio of 0.00 and a beta of 2.12. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Tonix Pharmaceuticals has a 12 month low of $0.46 and a 12 month high of $58.24. The stock has a 50-day moving average price of $2.25 and a 200-day moving average price of $6.50.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Monday, May 13th. The company reported ($5.76) EPS for the quarter, beating analysts’ consensus estimates of ($16.64) by $10.88. The firm had revenue of $2.48 million during the quarter, compared to analyst estimates of $4.00 million. Research analysts expect that Tonix Pharmaceuticals will post -34.73 EPS for the current fiscal year.

Tonix Pharmaceuticals Company Profile

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.