Tenax Therapeutics (NASDAQ:TENX) Share Price Passes Above 200-Day Moving Average of $0.41

Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Rating) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.41 and traded as high as $2.28. Tenax Therapeutics shares last traded at $2.15, with a volume of 256,223 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Tenax Therapeutics in a research report on Sunday, January 8th. They issued a “sell” rating for the company.

Tenax Therapeutics Price Performance

The company’s 50-day moving average price is $0.77 and its two-hundred day moving average price is $0.41.

Tenax Therapeutics (NASDAQ:TENX – Get Rating) last released its earnings results on Thursday, November 10th. The specialty pharmaceutical company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). On average, equities research analysts forecast that Tenax Therapeutics, Inc. will post -8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

A hedge fund recently raised its stake in Tenax Therapeutics stock. Armistice Capital LLC lifted its holdings in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Rating) by 23.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,965,885 shares of the specialty pharmaceutical company’s stock after buying an additional 368,836 shares during the period. Armistice Capital LLC owned 7.80% of Tenax Therapeutics worth $334,000 at the end of the most recent reporting period. 34.08% of the stock is currently owned by hedge funds and other institutional investors.

About Tenax Therapeutics

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Tenax Therapeutics, Inc, a specialty pharmaceutical company, engages in identifying, developing, and commercializing products for cardiovascular and pulmonary diseases in the United States and Canada. It develops TNX-103 and TNX-102 (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 pulmonary arterial hypertension.