Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) Director Buys 5,000 Shares of Stock
by Jessica Moore · The Cerbat GemTonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP – Get Free Report) Director Richard Newcomb Stillwell purchased 5,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $11.65 per share, with a total value of $58,250.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $58,250. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Tonix Pharmaceuticals Price Performance
NASDAQ TNXP traded down $0.25 during trading hours on Tuesday, reaching $11.46. The company’s stock had a trading volume of 544,959 shares, compared to its average volume of 425,927. The firm has a market capitalization of $182.68 million, a price-to-earnings ratio of -0.80 and a beta of 1.67. Tonix Pharmaceuticals Holding Corp. has a 1-year low of $10.87 and a 1-year high of $69.97. The company’s 50-day moving average is $13.20 and its two-hundred day moving average is $15.06.
Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39). The business had revenue of $6.88 million during the quarter, compared to analyst estimates of $6.13 million. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%. Equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -9.94 EPS for the current fiscal year.
Hedge Funds Weigh In On Tonix Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Tonix Pharmaceuticals by 238.1% in the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock worth $13,456,000 after acquiring an additional 392,225 shares during the period. Balyasny Asset Management L.P. acquired a new position in Tonix Pharmaceuticals during the fourth quarter worth $2,895,000. Geode Capital Management LLC lifted its stake in Tonix Pharmaceuticals by 182.4% during the second quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock worth $6,305,000 after purchasing an additional 113,175 shares in the last quarter. Nuveen LLC lifted its stake in Tonix Pharmaceuticals by 507.7% during the fourth quarter. Nuveen LLC now owns 93,402 shares of the company’s stock worth $1,459,000 after purchasing an additional 78,033 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Tonix Pharmaceuticals during the third quarter worth $1,521,000. Institutional investors and hedge funds own 82.26% of the company’s stock.
Wall Street Analysts Forecast Growth
TNXP has been the subject of several research reports. TD Cowen upgraded Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.00.
Check Out Our Latest Report on Tonix Pharmaceuticals
About Tonix Pharmaceuticals
Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.
Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.