Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Pass Above 200-Day Moving Average - What's Next?

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.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price 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 changing hands.

Analyst Upgrades and Downgrades

TNXP has been the subject of a number of recent analyst reports. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd.

Tonix Pharmaceuticals Stock Performance

The firm has a market capitalization of $345.33 million, a price-to-earnings ratio of -0.02 and a beta of 1.70. The business has a fifty day moving average price of $39.63 and a 200 day moving average price of $26.60.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.84) EPS for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. The business had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. On average, analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 4,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the purchase, the chief executive officer owned 4,005 shares in the company, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at $179,000. Rhumbline Advisers purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at $244,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at $405,000. Royal Bank of Canada purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at $610,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $40,000. Hedge funds and other institutional investors 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.

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