Tenax Therapeutics (NASDAQ:TENX) Shares Pass Above 200 Day Moving Average – Should You Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.77 and traded as high as $13.34. Tenax Therapeutics shares last traded at $13.13, with a volume of 151,369 shares changing hands.

Analysts Set New Price Targets

TENX has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Tenax Therapeutics to a “sell” rating in a research note on Saturday, October 25th. Guggenheim reissued a “buy” rating and set a $25.00 price objective (up from $14.00) on shares of Tenax Therapeutics in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Tenax Therapeutics Trading Up 1.4%

The company has a market capitalization of $81.93 million, a P/E ratio of -11.62 and a beta of 1.41. The company’s fifty day moving average is $12.54 and its 200 day moving average is $8.77.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.93. Equities research analysts predict that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Insider Transactions at Tenax Therapeutics

In related news, insider Stuart Rich purchased 2,500 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were purchased 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 approximately $50,500. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Mcgauley purchased 6,000 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $7.25 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 18,105 shares of company stock valued at $149,053 in the last ninety days. Insiders own 3.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Boothbay Fund Management LLC bought a new stake in Tenax Therapeutics during the third quarter valued at $2,680,000. Woodline Partners LP purchased a new stake in shares of Tenax Therapeutics in the 3rd quarter valued at about $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 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. Finally, Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics during the third quarter worth about $92,000. 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.