(TNXP) - Analyzing Tonix Pharmaceuticals's Short Interest
Portfolio Pulse from Benzinga Insights
Tonix Pharmaceuticals (NYSE:TNXP) has seen a significant rise in short interest, with 8.29 million shares sold short, representing 5.92% of its float. This increase in short interest, which is higher than its peers, may indicate bearish sentiment but could also present a bullish opportunity.
October 22, 2024 | 5:45 pm
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NEUTRAL IMPACT
Tonix Pharmaceuticals has experienced a 179.25% increase in short interest, with 8.29 million shares sold short, accounting for 5.92% of its float. This is significantly higher than its peers' average short interest of 2.12%, indicating potential bearish sentiment.
The significant increase in short interest suggests that investors are more bearish on TNXP compared to its peers. However, high short interest can also lead to a short squeeze, potentially driving the stock price up if traders rush to cover their positions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100