Tenax Therapeutics (NASDAQ:TENX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.93 and traded as high as $6.20. Tenax Therapeutics shares last traded at $6.09, with a volume of 8,149 shares trading hands.

Analyst Ratings Changes

Several equities analysts have issued reports on TENX shares. Piper Sandler started coverage on shares of Tenax Therapeutics in a research report on Monday, September 8th. They issued an “overweight” rating and a $20.00 price target for the company. Guggenheim decreased their price target on shares of Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.00.

Tenax Therapeutics Stock Performance

The stock’s 50 day moving average price is $6.00 and its 200 day moving average price is $5.93. The company has a market capitalization of $27.77 million, a P/E ratio of -6.62 and a beta of 1.44.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Wednesday, August 13th. The specialty pharmaceutical company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.23. On average, analysts expect that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in Tenax Therapeutics in the fourth quarter worth $1,026,000. ADAR1 Capital Management LLC grew its holdings in Tenax Therapeutics by 98.1% in the first quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after purchasing an additional 34,048 shares during the period. Millennium Management LLC acquired a new stake in Tenax Therapeutics in the fourth quarter worth $166,000. Finally, Two Sigma Investments LP bought a new position in shares of Tenax Therapeutics in the fourth quarter valued at $84,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.