Wall Street Zen Upgrades Tenon Medical (NASDAQ:TNON) to Hold

by · The Markets Daily

Tenon Medical (NASDAQ:TNON – Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

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

Read Our Latest Analysis on TNON

Tenon Medical Price Performance

Shares of Tenon Medical stock opened at $5.00 on Friday. The firm has a market cap of $1.70 million, a price-to-earnings ratio of -0.11 and a beta of 1.39. The business has a 50-day moving average price of $8.30 and a 200-day moving average price of $19.67. Tenon Medical has a twelve month low of $4.38 and a twelve month high of $50.40.

Tenon Medical (NASDAQ:TNON – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($12.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.54 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TNON. DRW Securities LLC purchased a new position in Tenon Medical in the fourth quarter worth about $98,000. Geode Capital Management LLC raised its position in 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 purchased a new stake in Tenon Medical during the first quarter valued at approximately $29,000. Institutional investors own 22.74% of the company’s stock.

Tenon Medical Company Profile

(Get Free Report)

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.

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