Tenax Therapeutics (NASDAQ:TENX) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.31 and traded as high as $12.75. Tenax Therapeutics shares last traded at $12.36, with a volume of 443,202 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on TENX. Cantor Fitzgerald initiated coverage on shares of Tenax Therapeutics in a research note on Tuesday, March 17th. They set an “overweight” rating and a $35.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Guggenheim increased their price objective on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Tenax Therapeutics Price Performance

The stock has a market capitalization of $321.69 million, a price-to-earnings ratio of -8.66 and a beta of 1.00. The stock’s 50 day simple moving average is $13.75 and its 200-day simple moving average is $12.31.

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

Hedge Funds Weigh In On Tenax Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Tenax Therapeutics by 391.2% during the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. Stempoint Capital LP acquired a new stake in Tenax Therapeutics in the 1st quarter valued at $3,017,000. Janus Henderson Group PLC increased its stake in Tenax Therapeutics by 989.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after buying an additional 1,648,808 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings in 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 buying an additional 149,789 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Tenax Therapeutics during the first quarter worth $501,000. 1.67% of the stock is 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.