Tenax Therapeutics (NASDAQ:TENX) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.12 and traded as high as $12.75. Tenax Therapeutics shares last traded at $12.66, with a volume of 45,709 shares traded.

Wall Street Analysts Forecast Growth

TENX has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday. Piper Sandler started coverage on Tenax Therapeutics in a research report on Monday, September 8th. They set an “overweight” rating and a $20.00 price objective for the company. Wall Street Zen raised Tenax Therapeutics to a “sell” rating in a research report on Saturday, October 25th. Finally, Guggenheim restated a “buy” rating and set a $25.00 price target (up from $14.00) on shares of Tenax Therapeutics in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Check Out Our Latest Report on Tenax Therapeutics

Tenax Therapeutics Price Performance

The company has a 50-day moving average of $8.80 and a two-hundred day moving average of $7.12. The company has a market capitalization of $79.00 million, a PE ratio of -11.20 and a beta of 1.55.

Tenax Therapeutics (NASDAQ:TENX – Get Free Report) 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. As a group, research analysts anticipate that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Insider Activity at Tenax Therapeutics

In other news, insider Stuart Rich purchased 2,500 shares of the company’s stock in a transaction on Monday, December 8th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $25,250.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $50,500. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas Mcgauley acquired 6,000 shares of Tenax Therapeutics stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $7.25 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief financial officer owned 5,000 shares of the company’s stock, valued at approximately $36,250. This represents a -600.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 18,105 shares of company stock worth $149,053 in the last ninety days. Insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Tenax Therapeutics

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

Tenax Therapeutics Company Profile

(Get Free Report)

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.

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