Tenax Therapeutics (NASDAQ:TENX) Shares Pass Above 200 Day Moving Average – What’s Next?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.88 and traded as high as $7.69. Tenax Therapeutics shares last traded at $7.30, with a volume of 25,076 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TENX. Leerink Partners began coverage on Tenax Therapeutics in a research note on Thursday, October 24th. They set an “outperform” rating and a $16.00 price objective on the stock. Leerink Partnrs raised Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Tenax Therapeutics Stock Down 2.9 %

The company has a 50 day moving average of $6.27 and a 200-day moving average of $4.88.

Institutional Trading of Tenax Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Tenax Therapeutics by 32.4% in the fourth quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 5,964 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Tenax Therapeutics in the third quarter worth about $101,000. Stonepine Capital Management LLC bought a new stake in shares of Tenax Therapeutics in the third quarter worth about $173,000. Finally, Vestal Point Capital LP bought a new stake in shares of Tenax Therapeutics in the third quarter worth about $288,000. 1.67% of the stock is owned by institutional investors.

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.