Tonix Pharmaceuticals (NASDAQ:TNXP) CEO Buys $27,580.00 in Stock

Key Points

• CEO Seth Lederman purchased 2,000 Tonix Pharmaceuticals shares at an average price of $13.79, spending $27,580 and increasing his direct ownership by 22.21% to 11,005 shares.
• Tonix reported quarterly revenue of $13.54 million and an adjusted loss of $2.44 per share, exceeding analyst expectations, but remains deeply unprofitable with a negative net margin of 548.64%.
• Analyst sentiment is mixed but averages a “Buy” rating, with a consensus price target of $24.50 versus the stock’s recent opening price of $13.59; institutional investors own 82.26% of the shares.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) CEO Seth Lederman bought 2,000 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $13.79 per share, for a total transaction of $27,580.00. Following the acquisition, the chief executive officer directly owned 11,005 shares of the company's stock, valued at approximately $151,758.95. This represents a 22.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 9th, Seth Lederman purchased 5,000 shares of Tonix Pharmaceuticals stock. The shares were bought at an average price of $11.79 per share, with a total value of $58,950.00.

Tonix Pharmaceuticals Price Performance

TNXP opened at $13.59 on Monday. The firm's fifty day moving average price is $11.98 and its two-hundred day moving average price is $12.98. The company has a market capitalization of $233.08 million, a price-to-earnings ratio of -1.05 and a beta of 1.69. Tonix Pharmaceuticals Holding Corp. has a 1 year low of $9.40 and a 1 year high of $31.55.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share 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 business had revenue of $13.54 million for the quarter, compared to analysts' expectations of $7.72 million. As a group, equities analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -10.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TNXP. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday. TD Cowen upgraded shares of Tonix Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Tonix Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 28th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $27.00 target price on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $24.50.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in Tonix Pharmaceuticals during the second quarter worth about $533,000. State of Wyoming purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $27,000. Bank of America Corp DE lifted its position 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 worth $112,000 after buying an additional 1,146 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Tonix Pharmaceuticals in the 3rd quarter worth approximately $29,000. Finally, BNP Paribas Financial Markets purchased a new stake in Tonix Pharmaceuticals in the second quarter worth approximately $65,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

Tonix Pharmaceuticals Company Profile

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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