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It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we’d be remiss not to mention that insider sales have been known to precede tough periods for a business. So before you buy or sell Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), you may well want to know whether insiders have been buying or selling.
Do Insider Transactions Matter?
Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock on the market. However, rules govern insider transactions, and certain disclosures are required.
We don’t think shareholders should simply follow insider transactions. But it is perfectly logical to keep tabs on what insiders are doing. For example, a Harvard University study found that ‘insider purchases earn abnormal returns of more than 6% per year.’
Tonix Pharmaceuticals Holding Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Ernest Mario for US$74k worth of shares, at about US$44.80 per share. So it’s clear an insider wanted to buy, even at a higher price. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company’s future. It’s not at all bad to see insiders buy shares at or above current prices.
In the last twelve months insiders paid US$165k for 4.11k shares purchased. In the last twelve months there was more buying than selling by Tonix Pharmaceuticals Holding insiders. They paid about US$40.14 on average. This is nice to see since it implies that insiders might see value around current prices (around US$2.07). The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of Tonix Pharmaceuticals Holding
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it’s a good sign if insiders own a significant number of shares in the company. From our data, it seems that Tonix Pharmaceuticals Holding insiders own 5.3% of the company, worth about US$263k. Overall, this level of ownership isn’t that impressive, but it’s certainly better than nothing!
So What Do The Tonix Pharmaceuticals Holding Insider Transactions Indicate?
It doesn’t really mean much that no insider has traded Tonix Pharmaceuticals Holding shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. We’d like to see bigger individual holdings. However, we don’t see anything to make us think Tonix Pharmaceuticals Holding insiders are doubting the company. Of course, the future is what matters most. So if you are interested in Tonix Pharmaceuticals Holding, you should check out this free report on analyst forecasts for the company.
Of course Tonix Pharmaceuticals Holding may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
To help readers see past the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price-sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned. For errors that warrant correction please contact the editor at firstname.lastname@example.org.