Tenax Therapeutics (NASDAQ:TENX) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.05 and traded as high as $14.88. Tenax Therapeutics shares last traded at $13.29, with a volume of 827,241 shares.

Wall Street Analyst Weigh In

TENX has been the topic of a number of analyst reports. Chardan Capital reissued a “buy” rating and set a $27.00 price objective on shares of Tenax Therapeutics in a report on Thursday. Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a research report on Wednesday, June 24th. Piper Sandler increased their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tenax Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Tenax Therapeutics Price Performance

The firm has a market capitalization of $410.00 million, a P/E ratio of -11.04 and a beta of 0.92. The business has a 50 day moving average price of $12.30 and a 200 day moving average price of $13.09.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, equities analysts expect that Tenax Therapeutics, Inc. will post -1.51 EPS for the current year.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TENX. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter valued at about $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics in the 4th quarter valued at about $130,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics in the 4th quarter valued at about $151,000. Quadrature Capital Ltd bought a new position in Tenax Therapeutics in the 4th quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics during the fourth quarter worth approximately $273,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

About Tenax Therapeutics

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.