Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) CEO Acquires $20,250.00 in Stock

Key Points

• Tonix Pharmaceuticals CEO Seth Lederman bought 5,000 shares for $20,250 at $4.05 per share, increasing his direct stake by 45.43% to 16,005 shares.
• The stock opened at $3.87 after falling 5.6%; its latest quarterly loss per share of $2.89 was worse than analysts’ $2.39 estimate, though revenue of $17.23 million topped expectations.
• Analysts’ consensus rating is “Buy,” with an average price target of $22.33, despite mixed ratings that include a “Sell.”

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) CEO Seth Lederman purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $4.05 per share, for a total transaction of $20,250.00. Following the acquisition, the chief executive officer directly owned 16,005 shares in the company, valued at $64,820.25. This trade represents a 45.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Seth Lederman also recently made the following trade(s):

• On Thursday, August 27th, Seth Lederman acquired 2,000 shares of Tonix Pharmaceuticals stock. The stock was purchased at an average price of $13.79 per share, for a total transaction of $27,580.00.

Tonix Pharmaceuticals Trading Down 5.6%

Shares of NASDAQ TNXP opened at $3.87 on Thursday. The stock has a fifty day simple moving average of $8.13 and a two-hundred day simple moving average of $12.00. Tonix Pharmaceuticals Holding Corp. has a 1-year low of $3.82 and a 1-year high of $20.56. The firm has a market cap of $75.19 million, a price-to-earnings ratio of -0.32 and a beta of 1.90.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its earnings results on Monday, November 9th. The company reported ($2.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.50). Tonix Pharmaceuticals had a negative net margin of 420.45% and a negative return on equity of 78.17%. The firm had revenue of $17.23 million during the quarter, compared to the consensus estimate of $16.32 million. Analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -9.90 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, October 4th. Canaccord Genuity Group assumed coverage on shares of Tonix Pharmaceuticals in a research report on Monday, October 26th. They set a "buy" rating and a $18.00 target price for the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, October 20th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Tonix Pharmaceuticals in a research report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.33.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TNXP. Bank of America Corp DE increased its position in shares of Tonix Pharmaceuticals by 101.1% during the first quarter. Bank of America Corp DE now owns 60,958 shares of the company's stock valued at $838,000 after buying an additional 30,644 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Tonix Pharmaceuticals in the second quarter valued at approximately $533,000. Great Lakes Advisors LLC purchased a new position in Tonix Pharmaceuticals during the second quarter valued at approximately $303,000. Integrated Wealth Concepts LLC purchased a new position in Tonix Pharmaceuticals during the second quarter valued at approximately $92,000. Finally, Global Retirement Partners LLC purchased a new position in Tonix Pharmaceuticals during the third quarter valued at approximately $28,000. Institutional investors own 82.26% of the company's stock.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp. is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving the central nervous system, immunology and infectious diseases. The company's research programs are designed to address disorders with significant unmet medical needs, including chronic pain, neuropsychiatric conditions and infectious diseases. Tonix's pipeline has included TNX-102 SL, an investigational sublingual formulation of cyclobenzaprine being studied for fibromyalgia and other pain-related conditions.

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