Investors in Tonix Pharmaceuticals (NASDAQ:TNXP) are probably going to be keeping tabs on the company’s stock this week since it did not have a particularly great time last week. The Tonix stock went down by as much as 5% last week and many would probably be hoping for a quick recovery.
Market Action:
On Friday, TNXP stock moved down 5.26% at $0.5535 with more than 19.81 million shares, compared to its average volume of 12.95 million shares. The stock has moved within a range of $0.5350 – 0.5699 after opening the trade at $0.5600.
Recent Development
In this context, it is important for investors to keep in mind that last Thursday the company had also made a major announcement and it might be a good idea to take a look at it. The clinical stage biopharmaceutical firm had announced at the time that its Chief Executive Officer and President, Seth Lederman, was going to participate in a key industry event.
The event in question is the BIO-Europe 2021 and it will be held virtually from today up until October 28. Tonix informed that Lederman was not only going to deliver a presentation with regards to the company’s work but also participate in direct meetings. It goes without saying that the CEO’s participation at the event could be a major boost for Tonix. However, it remains to be seen if it brings any boost to the Tonix stock. Investors could do well to keep tabs on the event.
Traders Note:
TNXP stock is trading below the 200-Day and 50-Day Moving averages of $1 and $0.63 respectively. The stock is down 8% in the past month.
