Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) CEO Buys 15,000 Shares of Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXPGet Free Report) CEO Seth Lederman acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $14.89 per share, with a total value of $223,350.00. Following the acquisition, the chief executive officer owned 15,001 shares in the company, valued at $223,364.89. The trade was a 1,500,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Tonix Pharmaceuticals Stock Down 5.1%

Shares of NASDAQ:TNXP traded down $0.77 during midday trading on Wednesday, hitting $14.19. The stock had a trading volume of 326,284 shares, compared to its average volume of 377,729. The company has a market cap of $190.15 million, a P/E ratio of -0.99 and a beta of 1.88. Tonix Pharmaceuticals Holding Corp. has a 12 month low of $13.07 and a 12 month high of $69.97. The business’s 50-day simple moving average is $15.61 and its 200-day simple moving average is $18.60.

Tonix Pharmaceuticals (NASDAQ:TNXPGet Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($3.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.16) by ($0.82). The firm had revenue of $5.39 million for the quarter, compared to the consensus estimate of $2.97 million. Tonix Pharmaceuticals had a negative return on equity of 60.15% and a negative net margin of 946.22%. As a group, equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Key Tonix Pharmaceuticals News

Here are the key news stories impacting Tonix Pharmaceuticals this week:

Analyst Ratings Changes

TNXP has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.00.

Check Out Our Latest Research Report on Tonix Pharmaceuticals

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Tonix Pharmaceuticals in the second quarter valued at about $25,000. Strs Ohio boosted its holdings in shares of Tonix Pharmaceuticals by 9.9% during the 4th quarter. Strs Ohio now owns 7,800 shares of the company’s stock worth $122,000 after buying an additional 700 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Tonix Pharmaceuticals in the 2nd quarter valued at about $28,000. Rhumbline Advisers grew its stake in Tonix Pharmaceuticals by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 12,206 shares of the company’s stock valued at $295,000 after buying an additional 908 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Tonix Pharmaceuticals by 32.7% in the 3rd quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock valued at $112,000 after acquiring an additional 1,146 shares during the period. 82.26% of the stock is owned by institutional investors.

Tonix Pharmaceuticals Company Profile

(Get Free Report)

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.

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