Insider Buying: Tonix Pharmaceuticals (NASDAQ:TNXP) Director Buys $58,250.00 in Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Director Richard Newcomb Stillwell bought 5,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $11.65 per share, with a total value of $58,250.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $58,250. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tonix Pharmaceuticals Stock Down 2.8%

Shares of Tonix Pharmaceuticals stock opened at $10.65 on Friday. The stock has a market capitalization of $169.76 million, a P/E ratio of -0.74 and a beta of 1.67. The stock has a 50 day moving average price of $13.09 and a two-hundred day moving average price of $14.95. Tonix Pharmaceuticals Holding Corp. has a 12-month low of $10.03 and a 12-month high of $69.97.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, May 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39). The company had revenue of $6.88 million for 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%. Sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -9.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNXP. Wall Street Zen cut Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, April 20th. Finally, TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNXP. Royal Bank of Canada acquired a new position in shares of Tonix Pharmaceuticals in the first quarter valued at $610,000. Geode Capital Management LLC raised its stake in shares of Tonix Pharmaceuticals by 182.4% in the second quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock valued at $6,305,000 after purchasing an additional 113,175 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Tonix Pharmaceuticals in the second quarter valued at $129,000. Legal & General Group Plc acquired a new position in shares of Tonix Pharmaceuticals in the second quarter valued at $25,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Tonix Pharmaceuticals in the second quarter valued at $104,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

About Tonix Pharmaceuticals

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.