Tenon Medical (NASDAQ:TNON) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Tenon Medical (NASDAQ:TNON) to a hold rating in a report published on Saturday morning.

TNON has been the topic of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Tenon Medical in a research report on Friday, July 17th. Alliance Global Partners reiterated a “buy” rating on shares of Tenon Medical in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tenon Medical presently has a consensus rating of “Hold”.

Tenon Medical Trading Down 0.4%

Shares of TNON stock opened at $5.00 on Friday. The stock has a market cap of $1.70 million, a price-to-earnings ratio of -0.11 and a beta of 1.39. The stock has a 50-day moving average of $8.30 and a 200-day moving average of $19.74. Tenon Medical has a 1-year low of $4.38 and a 1-year high of $50.40.

Tenon Medical (NASDAQ:TNON) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($12.35) EPS for the quarter, missing analysts’ consensus estimates of ($8.40) by ($3.95). Tenon Medical had a negative return on equity of 907.60% and a negative net margin of 257.85%.The company had revenue of $1.28 million during the quarter, compared to analyst estimates of $1.54 million.

Institutional Trading of Tenon Medical

Several hedge funds have recently modified their holdings of TNON. DRW Securities LLC acquired a new position in shares of Tenon Medical during the 4th quarter valued at $98,000. Geode Capital Management LLC raised its holdings in shares of Tenon Medical by 34.6% during the fourth quarter. Geode Capital Management LLC now owns 66,640 shares of the company’s stock valued at $63,000 after purchasing an additional 17,137 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Tenon Medical during the first quarter valued at about $29,000. Institutional investors own 22.74% of the company’s stock.

About Tenon Medical

Tenon Medical, Inc is a development-stage medical device company focused on the research, development and commercialization of next-generation surgical biologic adhesives and sealants. The company’s proprietary platform is designed to create tissue-compatible adhesives that can serve as alternatives or complements to traditional sutures and staples, with the goal of improving surgical efficiency, reducing postoperative complications and enhancing patient outcomes.

Tenon Medical’s product pipeline centers on protein-based polymer formulations that cross-link in situ to form a flexible, yet durable, bond with native tissue.