Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.46 and traded as high as $9.70. Tenax Therapeutics shares last traded at $9.47, with a volume of 217,241 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler initiated coverage on shares of Tenax Therapeutics in a research report on Monday, September 8th. They set an “overweight” rating and a $20.00 price objective for the company. Guggenheim reduced 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenax Therapeutics in a research note on Monday. Finally, Wall Street Zen upgraded Tenax Therapeutics to a “sell” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Tenax Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tenax Therapeutics Stock Performance

The company has a market cap of $59.13 million, a price-to-earnings ratio of -10.29 and a beta of 1.52. The firm’s 50 day simple moving average is $7.39 and its 200-day simple moving average is $6.46.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.93. As a group, sell-side analysts expect that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Insider Transactions at Tenax Therapeutics

In other news, CFO Thomas Mcgauley bought 6,000 shares of Tenax Therapeutics stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $7.25 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at approximately $36,250. This trade represents a -600.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 10,605 shares of company stock worth $78,173 in the last ninety days. 3.14% of the stock is currently owned by company insiders.

Institutional Trading of Tenax Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TENX. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at approximately $92,000. Citadel Advisors LLC increased its stake in Tenax Therapeutics by 318.1% during the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC raised its position 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 valued at $450,000 after purchasing an additional 34,048 shares during the period. Woodline Partners LP acquired a new position in shares of Tenax Therapeutics in the 3rd quarter valued at $671,000. Finally, Millennium Management LLC grew its holdings in shares of Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares during the period. Institutional investors and hedge funds own 1.67% of the company’s stock.

About Tenax Therapeutics

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.