Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Up 56.6% in December

Tenax Therapeutics, Inc. (NASDAQ:TENX) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 204,500 shares, an increase of 56.6% from the November 30th total of 130,600 shares. Approximately 6.9% of the company’s shares are short sold. Based on an average daily volume of 62,300 shares, the short-interest ratio is currently 3.3 days.

Tenax Therapeutics Trading Up 9.9 %

Shares of TENX stock traded up $0.57 on Friday, reaching $6.30. 92,835 shares of the stock were exchanged, compared to its average volume of 239,828. The firm has a 50 day moving average of $5.19 and a two-hundred day moving average of $4.11. Tenax Therapeutics has a 1-year low of $2.77 and a 1-year high of $27.33.

Analysts Set New Price Targets

A number of brokerages have recently commented on TENX. William Blair assumed coverage on shares of Tenax Therapeutics in a report on Monday, September 30th. They set an “outperform” rating for the company. StockNews.com began coverage on shares of Tenax Therapeutics in a research note on Thursday, September 26th. They issued a “sell” rating for the company. Leerink Partners initiated coverage on Tenax Therapeutics in a research note on Thursday, October 24th. They set an “outperform” rating and a $16.00 price target on the stock. Guggenheim began coverage on Tenax Therapeutics in a research report on Monday, October 14th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Leerink Partnrs upgraded Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestal Point Capital LP purchased a new stake in shares of Tenax Therapeutics during the 3rd quarter worth about $288,000. Stonepine Capital Management LLC purchased a new position in Tenax Therapeutics in the third quarter valued at approximately $173,000. Finally, Sphera Funds Management LTD. acquired a new position in Tenax Therapeutics during the third quarter valued at approximately $101,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.