Tenax Therapeutics (NASDAQ:TENX) Shares Pass Above 200-Day Moving Average – Here’s Why

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.48 and traded as high as $15.64. Tenax Therapeutics shares last traded at $14.75, with a volume of 390,047 shares traded.

Wall Street Analysts Forecast Growth

TENX has been the subject of several research analyst reports. Guggenheim restated a “buy” rating and set a $25.00 price target (up previously from $14.00) on shares of Tenax Therapeutics in a report on Wednesday, December 17th. Wall Street Zen raised shares of Tenax Therapeutics to a “sell” rating in a report on Saturday, October 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Tenax Therapeutics Stock Performance

The company has a fifty day moving average of $11.98 and a two-hundred day moving average of $8.48. The company has a market cap of $92.04 million, a PE ratio of -13.05 and a beta of 1.34.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($1.33) by $0.93. On average, equities analysts forecast that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Insider Transactions at Tenax Therapeutics

In other news, CFO Thomas Mcgauley acquired 6,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $7.25 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief financial officer directly owned 5,000 shares in the company, valued at approximately $36,250. This trade represents a -600.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart Rich bought 2,500 shares of the company’s stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $10.10 per share, with a total value of $25,250.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $50,500. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 18,105 shares of company stock worth $149,053 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenax Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter worth about $92,000. Citadel Advisors LLC grew its stake in Tenax Therapeutics by 318.1% in the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Tenax Therapeutics during the third quarter worth approximately $671,000. Millennium Management LLC increased its position in shares of Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after acquiring an additional 79,998 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Tenax Therapeutics during the third quarter valued at approximately $2,680,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.