After having gone through a fairly tough period, the Tonix Pharmaceuticals (NASDAQ:TNXP) stock managed to make a fairly strong recovery yesterday and ended up with gains of as much as 5%. That being said, investors need to note that despite the recovery yesterday, the stock is still down by as much as 13% over the past week.
Trading Data
On Tuesday, TNXP stock gained 4.83% to $0.2452 with more than 15.27 million shares traded, compared to its average volume of 16.75 million shares. The stock has moved within a range of $0.2322 – 0.2500 after opening trading at $0.235.
Recent News
Yesterday, the clinical stage biopharmaceutical firm came into focus among investors after it announced that it had been successful in enrolling its first participant for a study related to dose-finding of its product TNX 2100. The product in question is actually a skin test that can determine delayed type hypersensitivity to CoV-2.
It is a COVID test that is meant to measure the degree of T Cell immunity. The enrolment of the first patient is a significant development for the company and it was clear that the investors reacted to that news. It is now going to be interesting to see if the stock can manage to hold on to that momentum and add to its gains over the course of the coming days. It could be a good move to add Tonix Pharmaceuticals to your watch lists today.
Technical Data
TNXP stock is below the 50-Day and 200-Day Moving averages of $0.31 and $0.40 respectively. However, the stock is trading below the 20-Day moving average of $0.75. The stock is down 39% in the Moreover month.
