Tenax Therapeutics (NASDAQ:TENX) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on TENX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday, December 22nd. Guggenheim reissued a “buy” rating and set a $25.00 price target (up previously from $14.00) on shares of Tenax Therapeutics in a research report on Wednesday, December 17th. Finally, Wall Street Zen raised Tenax Therapeutics to a “sell” rating in a research report on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Tenax Therapeutics Trading Down 2.1%

The firm has a market capitalization of $78.99 million, a PE ratio of -11.19 and a beta of 1.41. The business’s 50 day simple moving average is $13.03 and its two-hundred day simple moving average is $9.07.

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

Insider Transactions at Tenax Therapeutics

In other Tenax Therapeutics news, insider Stuart Rich purchased 2,500 shares of Tenax Therapeutics stock in a transaction dated Monday, December 8th. The stock was purchased at an average price of $10.10 per share, with a total value of $25,250.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at $50,500. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Mcgauley acquired 6,000 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $7.25 per share, for a total transaction of $43,500.00. Following the purchase, the chief financial officer directly owned 5,000 shares in the company, valued at approximately $36,250. This trade represents a -600.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 18,105 shares of company stock valued at $149,053. Corporate insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Tenax Therapeutics

A number of hedge funds have recently modified their holdings of TENX. Boothbay Fund Management LLC bought a new position in Tenax Therapeutics in the 3rd quarter worth $2,680,000. Marshall Wace LLP increased its position in Tenax Therapeutics by 68.2% in the fourth quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock worth $3,634,000 after buying an additional 120,944 shares in the last quarter. Woodline Partners LP purchased a new stake in Tenax Therapeutics in the third quarter worth about $671,000. Millennium Management LLC raised its stake 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 buying an additional 79,998 shares during the period. Finally, Siren L.L.C. lifted its position in shares of Tenax Therapeutics by 21.2% during the 4th quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock valued at $5,207,000 after buying an additional 74,700 shares in the last quarter. Institutional investors own 1.67% of the company’s stock.

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.