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

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.03 and traded as high as $6.26. Tenax Therapeutics shares last traded at $6.08, with a volume of 6,579 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen assumed coverage on shares of Tenax Therapeutics in a research note on Friday, May 16th. They issued a “sell” rating for the company. Leerink Partners set a $20.00 target price on shares of Tenax Therapeutics in a research note on Monday, March 10th. Guggenheim reiterated a “buy” rating and issued a $15.00 target price on shares of Tenax Therapeutics in a research note on Thursday, May 15th. Finally, William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Tenax Therapeutics Stock Performance

The stock has a market capitalization of $25.22 million, a P/E ratio of -2.45 and a beta of 1.92. The company’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $6.03.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Wednesday, May 14th. The specialty pharmaceutical company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. On average, research analysts predict that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TENX. Janus Henderson Group PLC bought a new position in Tenax Therapeutics in the 4th quarter valued at about $1,026,000. ADAR1 Capital Management LLC increased its holdings in shares of Tenax Therapeutics by 98.1% during the first quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after purchasing an additional 34,048 shares during the period. Millennium Management LLC bought a new position in shares of Tenax Therapeutics during the fourth quarter worth approximately $166,000. Two Sigma Investments LP bought a new position in shares of Tenax Therapeutics during the fourth quarter worth approximately $84,000. Finally, Geode Capital Management LLC increased its holdings in shares of Tenax Therapeutics by 32.4% during 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 period. 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.