Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) CEO Acquires $27,580.00 in Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) CEO Seth Lederman acquired 2,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price of $13.79 per share, with a total value of $27,580.00. Following the completion of the acquisition, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at approximately $151,758.95. The trade was a 22.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, June 9th, Seth Lederman bought 5,000 shares of Tonix Pharmaceuticals stock. The stock was acquired at an average price of $11.79 per share, for a total transaction of $58,950.00.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ TNXP opened at $13.38 on Thursday. The stock has a market cap of $229.47 million, a price-to-earnings ratio of -1.03 and a beta of 1.74. Tonix Pharmaceuticals Holding Corp. has a fifty-two week low of $9.40 and a fifty-two week high of $31.55. The firm’s 50-day simple moving average is $12.08 and its 200 day simple moving average is $12.94.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Monday, August 10th. The company reported ($2.44) EPS for the quarter, topping the consensus estimate of ($2.64) by $0.20. The firm had revenue of $13.54 million during the quarter, compared to the consensus estimate of $7.72 million. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%. On average, sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -10.03 EPS for the current year.

Analysts Set New Price Targets

TNXP has been the topic of several recent analyst reports. Wall Street Zen upgraded Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $27.00 target price on shares of Tonix Pharmaceuticals in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $24.50.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in shares of Tonix Pharmaceuticals by 221.9% during the second quarter. California State Teachers Retirement System now owns 2,437 shares of the company’s stock valued at $31,000 after acquiring an additional 1,680 shares during the last quarter. Great Lakes Advisors LLC bought a new position in Tonix Pharmaceuticals in the 2nd quarter valued at $303,000. Bank of New York Mellon Corp bought a new position in Tonix Pharmaceuticals in the 2nd quarter valued at $533,000. Bank of America Corp DE increased its position in shares of Tonix Pharmaceuticals by 101.1% during the 1st quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock valued at $838,000 after purchasing an additional 30,644 shares during the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth $138,000. 82.26% of the stock is owned by 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.