What's Going On With Tonix Pharmaceuticals (TNXP) Stock?

Tonix Pharmaceuticals Holding Corp TNXP shares are trading lower by 29% to $2.36 during Monday’s session after the company effected a 1-for-32 reverse stock split of its common stock. The company says this move aimed to raise the per-share trading price to meet NASDAQ’s $1.00 minimum bid price requirement.

The reverse split will consolidate every thirty-two pre-split shares into one share and apply to all common stock, including those from warrants and stock options. The number of authorized shares will remain unchanged.

Also, the company announced that it had its Type B CMC and clinical pre-NDA meeting with the U.S. Food and Drug Administration for Tonmya (TNX-102 SL), and that it is awaiting formal minutes of the meeting.

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Should I Sell My TNXP Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Tonix Pharmaceuticals have decreased by 95.74% in the past year. An investor who bought shares of Tonix Pharmaceuticals at the beginning of the year would take a loss of $11.0 per share if they sold it today. The stock has fallen 56.71% over the past month, meaning an investor who bought shares on May. 1 would see a capital loss of $3.11.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tonix Pharmaceuticals stock currently has an RSI of 1.15, indicating oversold conditions.

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TNXP has a 52-week high of $63.68 and a 52-week low of $2.26.