Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 18.8% Higher After Insider Buying Activity

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded up 18.8% during trading on Friday following insider buying activity. The company traded as high as $27.36 and last traded at $27.44. 757,421 shares were traded during trading, a decline of 7% from the average session volume of 811,087 shares. The stock had previously closed at $23.10.

Specifically, CEO Seth Lederman purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,005 shares in the company, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They set a “sell” rating on the stock. Noble Financial restated an “outperform” rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Up 21.2%

The stock has a market cap of $205.10 million, a PE ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The company’s 50-day moving average price is $18.93 and its 200 day moving average price is $20.88.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating the consensus estimate of ($3.23) by $0.39. The firm had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. As a group, analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNXP. Geode Capital Management LLC increased its holdings in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after purchasing an additional 1,855,907 shares during the last quarter. Jane Street Group LLC raised its holdings 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. Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $526,000. Northern Trust Corp purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $162,000. Finally, PFG Investments LLC purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $72,000. 82.26% of the stock is currently owned by institutional investors.

About Tonix Pharmaceuticals

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.