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

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were up 18.8% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $27.36 and last traded at $27.44. Approximately 757,421 shares traded hands during trading, a decline of 7% from the average daily volume of 811,087 shares. The stock had previously closed at $23.10.

Specifically, CEO Seth Lederman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the acquisition, the chief executive officer now owns 4,005 shares of the company’s stock, valued at approximately $86,307.75. This represents 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.

Analyst Ratings Changes

Several research firms recently weighed in on TNXP. StockNews.com began coverage on 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 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Price Performance

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

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, topping analysts’ consensus estimates of ($3.23) by $0.39. The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations 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, research analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new stake in Tonix Pharmaceuticals during the 1st quarter valued at approximately $179,000. Rhumbline Advisers purchased a new stake in Tonix Pharmaceuticals in the 1st quarter worth $244,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tonix Pharmaceuticals during the first quarter worth $405,000. Royal Bank of Canada purchased a new stake in shares of Tonix Pharmaceuticals during the first quarter worth $610,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth $40,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.