Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.58 and traded as high as $15.88. Tonix Pharmaceuticals shares last traded at $14.26, with a volume of 593,229 shares.

Analyst Upgrades and Downgrades

TNXP has been the subject of several research reports. Wall Street Zen downgraded shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. TD Cowen upgraded Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Tonix Pharmaceuticals Stock Up 5.8%

The company has a market cap of $231.13 million, a P/E ratio of -1.01 and a beta of 1.68. The business’s 50 day moving average is $13.78 and its 200 day moving average is $15.52.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, May 11th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39). The firm had revenue of $6.88 million during the quarter, compared to the consensus estimate of $6.13 million. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%. As a group, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -9.21 EPS for the current year.

Insider Activity

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 15,000 shares of Tonix Pharmaceuticals stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $14.89 per share, with a total value of $223,350.00. Following the completion of the transaction, the chief executive officer owned 15,001 shares in the company, valued at approximately $223,364.89. This trade represents a 1,500,000.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of TNXP. Vanguard Group Inc. raised its position in shares of Tonix Pharmaceuticals by 238.1% in the 3rd quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock valued at $13,456,000 after purchasing an additional 392,225 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Tonix Pharmaceuticals in the 4th quarter worth $2,895,000. Geode Capital Management LLC raised its stake in Tonix Pharmaceuticals by 182.4% in the 2nd quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock worth $6,305,000 after acquiring an additional 113,175 shares during the last quarter. Nuveen LLC raised its stake in Tonix Pharmaceuticals by 507.7% in the 4th quarter. Nuveen LLC now owns 93,402 shares of the company’s stock worth $1,459,000 after acquiring an additional 78,033 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Tonix Pharmaceuticals in the 3rd quarter worth $1,521,000. 82.26% of the stock is 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.