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

Key Points

• Tonix Pharmaceuticals' stock crossed above its 200-day moving average during recent trading, reaching a high of $50.39 and closing at $47.30 with significant trading volume of nearly 2 million shares.
• Wall Street analysts have shown optimism, with a "buy" rating from Alliance Global Partners and a recent upgrade from "sell" to "hold" by Wall Street Zen.
• CEO Seth Lederman purchased 4,000 shares at an average price of $21.55, reflecting confidence in the company's future despite its current challenges, including a high negative net margin.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.43 and traded as high as $50.39. Tonix Pharmaceuticals shares last traded at $47.30, with a volume of 1,960,461 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TNXP shares. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th.

Tonix Pharmaceuticals Trading Up 2.6%

The company has a market capitalization of $284.65 million, a price-to-earnings ratio of -0.02 and a beta of 2.05. The stock's fifty day simple moving average is $38.64 and its 200-day simple moving average is $25.86.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. The business had revenue of $2.43 million for the quarter, compared to analyst estimates 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 anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Transactions at Tonix Pharmaceuticals

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

Institutional Trading of Tonix Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $40,000. Geode Capital Management LLC boosted its position in shares of Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock worth $650,000 after acquiring an additional 1,855,907 shares in the last quarter. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Jane Street Group LLC raised its position in shares of Tonix Pharmaceuticals by 5,932.3% during the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock worth $548,000 after acquiring an additional 1,635,119 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals during the fourth quarter worth approximately $526,000. 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.