Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) Director Purchases $12,600.00 in Stock

Key Points

• Director Richard Bagger purchased 1,000 Tonix Pharmaceuticals shares at an average price of $12.60, investing a total of $12,600 and bringing his direct holdings to 1,000 shares.
• Tonix reported quarterly revenue of $13.54 million, exceeding analysts’ $7.72 million estimate, while adjusted EPS was a loss of $2.44. The company remains deeply unprofitable, with a negative net margin of 548.64%.
• TNXP shares opened at $12.55, compared with a 52-week range of $9.40 to $39.45. Analyst sentiment is mixed but the consensus rating is “Buy,” with a $24.50 target price; institutional investors own 82.26% of the stock.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) Director Richard Bagger acquired 1,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $12.60 per share, with a total value of $12,600.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $12,600. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tonix Pharmaceuticals Price Performance

NASDAQ TNXP opened at $12.55 on Monday. The company has a fifty day moving average price of $11.83 and a 200-day moving average price of $13.08. Tonix Pharmaceuticals Holding Corp. has a 1 year low of $9.40 and a 1 year high of $39.45. The firm has a market cap of $215.23 million, a price-to-earnings ratio of -0.97 and a beta of 1.69.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($2.44) EPS for the quarter, topping the consensus estimate of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. The firm had revenue of $13.54 million for the quarter, compared to analysts' expectations of $7.72 million. On average, research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -10.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TNXP. Wall Street Zen downgraded Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. TD Cowen upgraded Tonix Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 28th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $27.00 price target on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $24.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TNXP. Vanguard Group Inc. lifted its position in shares of Tonix Pharmaceuticals by 238.1% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tonix Pharmaceuticals by 35.3% in the fourth quarter. Geode Capital Management LLC now owns 271,904 shares of the company's stock worth $4,248,000 after acquiring an additional 70,970 shares during the period. State Street Corp grew its position in shares of Tonix Pharmaceuticals by 25.8% in the fourth quarter. State Street Corp now owns 191,855 shares of the company's stock valued at $2,997,000 after purchasing an additional 39,311 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at $2,895,000. Finally, Nuveen LLC raised its stake in shares of Tonix Pharmaceuticals by 507.7% during the 4th quarter. Nuveen LLC now owns 93,402 shares of the company's stock valued at $1,459,000 after purchasing an additional 78,033 shares during the period. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

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