Tenax Therapeutics (NASDAQ:TENX) Stock Passes 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 Thursday . The stock has a two hundred day moving average of $9.03 and traded as high as $13.21. Tenax Therapeutics shares last traded at $12.92, with a volume of 92,053 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Tenax Therapeutics to a “sell” rating in a 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 report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Tenax Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Tenax Therapeutics Stock Performance

The stock has a 50 day moving average price of $12.97 and a 200 day moving average price of $9.03. The company has a market capitalization of $80.62 million, a P/E ratio of -11.43 and a beta of 1.41.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.93. As a group, sell-side analysts expect that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stuart Rich acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was bought at an average price of $10.10 per share, with a total value of $25,250.00. Following the acquisition, the insider owned 5,000 shares in the company, valued at $50,500. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas Mcgauley acquired 6,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $7.25 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the chief financial officer directly owned 5,000 shares in the company, valued at $36,250. This trade represents a -600.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 18,105 shares of company stock valued at $149,053 over the last three months. Company insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Tenax Therapeutics

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