Geode Capital Management LLC Buys Shares of 17,845 Tenon Medical, Inc. (NASDAQ:TNON)

Geode Capital Management LLC purchased a new position in Tenon Medical, Inc. (NASDAQ:TNON) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,845 shares of the company’s stock, valued at approximately $34,000. Geode Capital Management LLC owned approximately 0.57% of Tenon Medical at the end of the most recent reporting period.

Separately, Spectrum Asset Management Inc. NB CA increased its stake in Tenon Medical by 155.9% in the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 25,650 shares of the company’s stock valued at $48,000 after buying an additional 15,625 shares during the period. Institutional investors and hedge funds own 22.74% of the company’s stock.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on shares of Tenon Medical in a research note on Wednesday, April 9th. They set a “buy” rating and a $3.00 target price for the company.

Tenon Medical Price Performance

TNON opened at $1.15 on Tuesday. The company has a market capitalization of $7.13 million, a PE ratio of -0.04 and a beta of 1.23. Tenon Medical, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $15.79. The business has a 50-day moving average of $1.34 and a 200-day moving average of $1.91.

Tenon Medical Profile

Tenon Medical, Inc, a medical device company, engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico. The company offers CATAMARAN SI-Joint Fusion System to fuse sacroiliac joints (SI-Joints) to treat SI-Joint dysfunction that often causes severe lower back pain; and features fixation device that passes through the axial and sagittal planes of the ilium and sacrum, as well as transfixes the SI joints.