Seth Lederman Purchases 2,000 Shares of Tonix Pharmaceuticals (NASDAQ:TNXP) Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) CEO Seth Lederman purchased 2,000 shares of the stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $13.79 per share, with a total value of $27,580.00. Following the completion of the purchase, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at $151,758.95. The trade was a 22.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

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

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

Tonix Pharmaceuticals Stock Performance

TNXP opened at $13.59 on Monday. The company has a market cap of $233.08 million, a P/E ratio of -1.05 and a beta of 1.69. Tonix Pharmaceuticals Holding Corp. has a 12 month low of $9.40 and a 12 month high of $31.55. The business’s 50-day moving average price is $11.98 and its 200-day moving average price is $12.98.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. The firm had revenue of $13.54 million for the quarter, compared to analysts’ expectations of $7.72 million. Equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -10.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TNXP has been the topic of several recent analyst reports. TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Raymond James Financial restated a “strong-buy” rating and issued a $27.00 price objective on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings lowered shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.50.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada purchased a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $610,000. Geode Capital Management LLC grew 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 valued at $6,305,000 after acquiring an additional 113,175 shares during the period. JPMorgan Chase & Co. bought a new stake in Tonix Pharmaceuticals during the second quarter valued at about $129,000. Legal & General Group Plc purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $25,000. Finally, New York State Common Retirement Fund bought a new position in Tonix Pharmaceuticals during the second quarter valued at $104,000. 82.26% of the stock is currently owned by hedge funds and other 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.