Tenax Therapeutics (NASDAQ:TENX) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.85 and traded as high as $12.42. Tenax Therapeutics shares last traded at $11.79, with a volume of 358,446 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday. Wall Street Zen upgraded Tenax Therapeutics to a “sell” rating in a research note on Saturday, October 25th. Piper Sandler initiated coverage on Tenax Therapeutics in a research report on Monday, September 8th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $25.00 price target (up previously from $14.00) on shares of Tenax Therapeutics in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Tenax Therapeutics Stock Performance

The business has a 50 day moving average of $8.17 and a 200-day moving average of $6.85. The company has a market capitalization of $73.57 million, a P/E ratio of -10.43 and a beta of 1.55.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results 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, equities analysts forecast that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at Tenax Therapeutics

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

Institutional Investors Weigh In On Tenax Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Tenax Therapeutics during the third quarter worth about $92,000. Citadel Advisors LLC boosted its position in shares of Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after acquiring an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in shares of Tenax Therapeutics by 98.1% during the first quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after purchasing an additional 34,048 shares in the last quarter. Woodline Partners LP bought a new position in shares of Tenax Therapeutics in the third quarter worth approximately $671,000. Finally, Millennium Management LLC increased its position in shares of Tenax Therapeutics by 34.2% in the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares during the last quarter. Institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.