Tenax Therapeutics (NASDAQ:TENX) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Tenax Therapeutics, Inc. (NASDAQ:TENX) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.63 and traded as high as $11.87. Tenax Therapeutics shares last traded at $11.42, with a volume of 119,446 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on TENX. Weiss Ratings restated 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 objective (up from $14.00) on shares of Tenax Therapeutics in a research report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Tenax Therapeutics Stock Down 1.7%

The stock has a market capitalization of $71.26 million, a price-to-earnings ratio of -10.11 and a beta of 1.41. The stock has a 50 day moving average price of $13.25 and a 200 day moving average price of $9.63.

Insiders Place Their Bets

In other Tenax Therapeutics news, insider Stuart Rich bought 2,500 shares of Tenax Therapeutics stock in a transaction on Monday, December 8th. The shares were purchased at an average cost of $10.10 per share, with a total value of $25,250.00. Following the acquisition, the insider directly owned 5,000 shares of the company’s stock, valued at $50,500. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenax Therapeutics

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics in the fourth quarter worth $151,000. Sphera Funds Management LTD. bought a new position in Tenax Therapeutics during the 4th quarter worth $2,317,000. Quadrature Capital Ltd acquired a new position in Tenax Therapeutics during the 4th quarter worth about $252,000. Perceptive Advisors LLC bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at about $5,353,000. Finally, Artia Global Partners LP acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $513,000. 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.