Tonix Pharmaceuticals Holding Corp. (TNXP) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of TNXP have fallen 3.6% to $0.69 after closing the day prior at $0.72. So far, the stock has traded as high as $0.74 and as low as $0.69. Today’s decline has come with about 650,731 shares changing hands, compared to an average 30-day volume of 1.37 million for Tonix Pharmaceuticals Holding Corp.. The price is currently below the 30-day volume weighted average price of $0.71 for TNXP.
The share depreciation gives the company a market capitalization of $18.62 million based upon 25.86 million shares outstanding. It also means that TNXP has a price-to-book ratio of 0.62:1.
In the past 52 weeks, shares of TNXP have traded as low as $0.6901 and as high as $7.9541. Technical traders will take note that at $0.69, shares of TNXP are trading below their 200-day MA at $3.11 and below their 50-day MA at $1.89. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is TNXP?
Tonix Pharmaceuticals Holding Corp is a clinical-stage pharmaceutical company. The Company is engaged in development of next-generation medicines. Its drug development programs are directed toward disorders affecting the central nervous system. The company’s 28 employees are led by CEO Seth Lederman from the corporate headquarters at 509 Madison Avenue in New York, NY.
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