Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Tonix Pharmaceuticals (NASDAQ:TNXP) shares have recently surpassed their 200-day moving average, reaching a high of $48.07 before closing at $46.92.
• Analysts have updated their ratings on TNXP, with Wall Street Zen moving from a "sell" to a "hold" rating, while Alliance Global Partners maintains a "buy" rating.
• In recent insider activity, CEO Seth Lederman purchased 4,000 shares of the company, significantly increasing his ownership percentage by 80,000% through this transaction.

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.60 and traded as high as $48.07. Tonix Pharmaceuticals shares last traded at $46.92, with a volume of 861,860 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNXP. Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th.

Tonix Pharmaceuticals Stock Up 30.1%

The business has a 50 day simple moving average of $39.90 and a 200 day simple moving average of $26.72. The company has a market capitalization of $430.60 million, a PE ratio of -0.03 and a beta of 1.70.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its quarterly earnings results on Friday, August 15th. The company reported ($3.86) EPS for the quarter, topping analysts' consensus estimates of ($6.71) by $2.85. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. The company had revenue of $2.00 million during the quarter, compared to analysts' expectations of $2.60 million. Equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $21.55 per share, with a total value of $86,200.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Tonix Pharmaceuticals during the second quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Tonix Pharmaceuticals during the second quarter valued at $62,000. Two Sigma Investments LP acquired a new stake in Tonix Pharmaceuticals during the fourth quarter valued at $66,000. JPMorgan Chase & Co. acquired a new stake in Tonix Pharmaceuticals during the second quarter valued at $129,000. Finally, Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals during the fourth quarter valued at $162,000. Institutional investors and hedge funds own 82.26% of the company's stock.

Tonix Pharmaceuticals Company Profile

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.