Tenax Therapeutics (NASDAQ:TENX) Hits New 12-Month Low – Here’s Why

Tenax Therapeutics, Inc. (NASDAQ:TENX) hit a new 52-week low during trading on Monday . The company traded as low as $1.31 and last traded at $1.38, with a volume of 64619137 shares traded. The stock had previously closed at $13.44.

Analyst Ratings Changes

A number of research analysts have issued reports on TENX shares. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday. Guggenheim set a $4.00 price target on shares of Tenax Therapeutics and gave the company a “buy” rating in a report on Tuesday. Piper Sandler upped their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and an average target price of $14.00.

Tenax Therapeutics Stock Performance

The business’s fifty day moving average is $13.40 and its 200-day moving average is $13.28. The firm has a market cap of $63.99 million, a P/E ratio of -1.16 and a beta of 0.93.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. Analysts predict that Tenax Therapeutics, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Trading of Tenax Therapeutics

Several institutional investors have recently modified their holdings of TENX. Virtu Financial LLC acquired a new stake in Tenax Therapeutics in the third quarter valued at $92,000. Citadel Advisors LLC lifted its holdings in Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after buying an additional 32,908 shares during the period. Millennium Management LLC grew its position in shares of Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock valued at $2,387,000 after buying an additional 79,998 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Tenax Therapeutics in the third quarter valued at about $671,000. Finally, Geode Capital Management LLC raised its position in shares of Tenax Therapeutics by 61.8% during the fourth quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after acquiring an additional 21,274 shares during the last quarter. Institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

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.