Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Expands By 114.1%

Tenax Therapeutics, Inc. (NASDAQ:TENX) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 5,473,983 shares, an increase of 114.1% from the July 30th total of 2,556,478 shares. Based on an average trading volume of 13,363,573 shares, the days-to-cover ratio is presently 0.4 days. Approximately 16.4% of the company’s stock are sold short.

Tenax Therapeutics Trading Down 2.7%

Shares of TENX stock opened at $2.13 on Friday. The business’s fifty day simple moving average is $10.98 and its 200-day simple moving average is $12.23. The company has a market cap of $79.70 million, a PE ratio of -1.44 and a beta of 0.93. Tenax Therapeutics has a 12-month low of $1.31 and a 12-month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. On average, equities analysts forecast that Tenax Therapeutics will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TENX. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research report on Tuesday, August 11th. Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Chardan Capital lowered Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research report on Tuesday, August 11th. Finally, Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Transactions at Tenax Therapeutics

In other Tenax Therapeutics news, major shareholder Adar1 Capital Management, Llc bought 716,369 shares of the business’s stock in a transaction on Friday, August 21st. The shares were acquired at an average price of $1.77 per share, with a total value of $1,267,973.13. Following the transaction, the insider owned 4,746,444 shares of the company’s stock, valued at approximately $8,401,205.88. This trade represents a 17.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 1,025,867 shares of company stock worth $1,815,658. 10.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics during the third quarter valued at about $92,000. Letko Brosseau & Associates Inc. acquired a new stake in Tenax Therapeutics in the 4th quarter worth approximately $130,000. Corient Private Wealth LLC acquired a new stake in Tenax Therapeutics in the 4th quarter worth approximately $151,000. Quadrature Capital Ltd purchased a new stake in Tenax Therapeutics during the 4th quarter worth approximately $252,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Tenax Therapeutics during the 4th quarter worth approximately $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.