Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.05 and traded as high as $14.88. Tenax Therapeutics shares last traded at $13.29, with a volume of 827,241 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TENX. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Guggenheim restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, June 24th. Piper Sandler increased their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Chardan Capital assumed coverage on Tenax Therapeutics in a research report on Monday, June 22nd. They issued a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and an average price target of $38.00.

Tenax Therapeutics Stock Performance

The firm has a market capitalization of $352.45 million, a PE ratio of -9.49 and a beta of 0.91. The stock’s 50-day simple moving average is $12.26 and its 200-day simple moving average is $13.05.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. As a group, analysts predict that Tenax Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Tenax Therapeutics in the third quarter worth about $92,000. Boothbay Fund Management LLC purchased a new position in shares of Tenax Therapeutics during the 3rd quarter worth approximately $2,680,000. Citadel Advisors LLC raised its position in shares of 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. Millennium Management LLC raised its position in shares of Tenax Therapeutics by 34.2% in the 3rd 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 in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Tenax Therapeutics during the third quarter valued at approximately $671,000. 1.67% of the stock is owned by institutional investors.

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.