Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Update

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TENX shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Evercore downgraded shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research note on Tuesday, August 11th. Roth Capital set a $5.00 target price on shares of Tenax Therapeutics in a report on Monday, August 10th. Leerink Partners set a $4.00 price target on shares of Tenax Therapeutics in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Tenax Therapeutics Price Performance

Shares of TENX stock opened at $2.13 on Monday. The firm has a market cap of $79.71 million, a P/E ratio of -1.44 and a beta of 0.93. Tenax Therapeutics has a 1-year low of $1.31 and a 1-year high of $19.40. The firm has a fifty day moving average of $10.98 and a two-hundred day moving average of $12.22.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. On average, sell-side analysts expect that Tenax Therapeutics will post -1.41 EPS for the current year.

Insider Activity

In other Tenax Therapeutics news, major shareholder Adar1 Capital Management, Llc bought 107,374 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average price of $1.75 per share, with a total value of $187,904.50. Following the transaction, the insider owned 4,853,818 shares in the company, valued at $8,494,181.50. This trade represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 1,025,867 shares of company stock worth $1,815,658. 10.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenax Therapeutics

Several large investors have recently added to or reduced their stakes in TENX. Janus Henderson Group PLC boosted its holdings in Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after purchasing an additional 1,648,808 shares during the period. ADAR1 Capital Management LLC raised its holdings in shares of Tenax Therapeutics by 235.2% during the first quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company’s stock worth $3,413,000 after purchasing an additional 149,789 shares during the period. Avidity Partners Management LP bought a new position in shares of Tenax Therapeutics in the 1st quarter worth about $3,453,000. Perceptive Advisors LLC lifted its position in shares of Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after buying an additional 1,008,640 shares during the last quarter. Finally, Stempoint Capital LP acquired a new position in shares of Tenax Therapeutics in the 1st quarter valued at about $3,017,000. 1.67% of the stock is currently owned by institutional investors.

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.