Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.58 and traded as high as $15.88. Tonix Pharmaceuticals shares last traded at $14.26, with a volume of 593,229 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on TNXP. Wall Street Zen cut Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Monday, April 20th. Finally, TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Tonix Pharmaceuticals Trading Down 9.4%

The business has a 50-day moving average of $13.76 and a two-hundred day moving average of $15.58. The firm has a market cap of $227.30 million, a P/E ratio of -0.99 and a beta of 1.68.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, May 11th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39). Tonix Pharmaceuticals had a negative net margin of 839.52% and a negative return on equity of 67.65%. The company had revenue of $6.88 million during the quarter, compared to the consensus estimate of $6.13 million. As a group, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -9.21 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 15,000 shares of Tonix Pharmaceuticals stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $14.89 per share, for a total transaction of $223,350.00. Following the transaction, the chief executive officer owned 15,001 shares of the company’s stock, valued at approximately $223,364.89. This represents a 1,500,000.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Tonix Pharmaceuticals by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 30,426 shares of the company’s stock valued at $418,000 after purchasing an additional 6,362 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $138,000. Man Group plc bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $288,000. Engineers Gate Manager LP boosted its position in shares of Tonix Pharmaceuticals by 63.7% during the 4th quarter. Engineers Gate Manager LP now owns 14,263 shares of the company’s stock valued at $223,000 after purchasing an additional 5,550 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $2,895,000. Institutional investors own 82.26% of the company’s stock.

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.