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

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 1,787,937 shares, a growth of 132.9% from the June 15th total of 767,532 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average trading volume of 1,507,495 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On Tenax Therapeutics

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics in the 3rd quarter worth approximately $92,000. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics during the fourth quarter worth approximately $130,000. Corient Private Wealth LLC bought a new stake in Tenax Therapeutics during the fourth quarter worth approximately $151,000. Quadrature Capital Ltd acquired a new position in Tenax Therapeutics in the fourth quarter worth approximately $252,000. Finally, Goldman Sachs Group Inc. acquired a new position in Tenax Therapeutics in the fourth quarter worth approximately $273,000. Institutional investors own 1.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TENX shares. Chardan Capital reissued a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. Piper Sandler raised their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Guggenheim restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Tenax Therapeutics Stock Performance

Shares of TENX stock traded down $0.59 during mid-day trading on Thursday, hitting $14.74. 401,726 shares of the stock traded hands, compared to its average volume of 641,821. Tenax Therapeutics has a twelve month low of $5.77 and a twelve month high of $19.40. The company’s 50-day simple moving average is $12.84 and its 200-day simple moving average is $13.37. The firm has a market cap of $391.04 million, a price-to-earnings ratio of -10.54 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. Analysts forecast that Tenax Therapeutics will post -1.51 earnings per share for the current year.

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.