Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.38 and traded as high as $12.57. Tenax Therapeutics shares last traded at $12.10, with a volume of 77,760 shares trading hands.

Analyst Upgrades and Downgrades

TENX has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Monday, December 22nd. Guggenheim restated a “buy” rating and set a $25.00 price target (up from $14.00) on shares of Tenax Therapeutics in a report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Tenax Therapeutics Stock Down 1.3%

The firm has a market cap of $75.50 million, a P/E ratio of -10.71 and a beta of 1.41. The stock’s 50-day moving average is $13.30 and its 200-day moving average is $9.38.

Insider Activity at Tenax Therapeutics

In related news, insider Stuart Rich bought 2,500 shares of Tenax Therapeutics stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $25,250.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $50,500. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 7,500 shares of company stock worth $70,880 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenax Therapeutics

Several large investors have recently added to or reduced their stakes in TENX. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth approximately $130,000. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics in the third quarter valued at $92,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics in the fourth quarter worth $151,000. Quadrature Capital Ltd acquired a new stake in Tenax Therapeutics during the fourth quarter worth $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in Tenax Therapeutics in the 4th quarter valued at $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

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.