Tonix Pharmaceuticals (NASDAQ:TNXP) Releases Earnings Results, Misses Expectations By $0.76 EPS

Key Points

• Tonix Pharmaceuticals reported a quarterly loss of ($3.86) EPS, surpassing expectations by $2.85 against a consensus estimate of ($6.71).
• The company's shares fell by 3.3%, trading at approximately $44.97, with a significant daily volume of 945,090 shares compared to the average.
• CEO Seth Lederman increased his stake in the company by acquiring 4,000 shares, reflecting a substantial increase of 80,000% in his position.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) released its earnings results on Monday. The company reported ($3.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($3.10) by ($0.76), Zacks reports. The business had revenue of $2.00 million for the quarter, compared to analysts' expectations of $2.60 million. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%.

Tonix Pharmaceuticals Trading Up 32.9%

Shares of TNXP stock traded up $14.79 during mid-day trading on Tuesday, reaching $59.76. The stock had a trading volume of 3,517,997 shares, compared to its average volume of 1,318,668. Tonix Pharmaceuticals has a 12-month low of $6.76 and a 12-month high of $130.00. The company has a market cap of $439.83 million, a P/E ratio of -0.03 and a beta of 1.70. The business has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $26.72.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd.

Insider Buying and Selling at Tonix Pharmaceuticals

In related news, CEO Seth Lederman acquired 4,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the transaction, the chief executive officer owned 4,005 shares in the company, valued at $86,307.75. This trade represents a 80,000.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $25,000. JPMorgan Chase & Co. acquired a new position in Tonix Pharmaceuticals in the 2nd quarter worth about $129,000. Royal Bank of Canada acquired a new stake in Tonix Pharmaceuticals in the 1st quarter valued at approximately $610,000. Finally, Geode Capital Management LLC lifted its position in shares of Tonix Pharmaceuticals by 182.4% during the 2nd quarter. Geode Capital Management LLC now owns 175,212 shares of the company's stock worth $6,305,000 after buying an additional 113,175 shares during the period. Hedge funds and other institutional investors own 82.26% of the company's stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.