Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.81 and traded as high as $13.32. Tenax Therapeutics shares last traded at $12.78, with a volume of 451,691 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on TENX shares. Guggenheim upped their price target on Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Finally, Cantor Fitzgerald assumed coverage on Tenax Therapeutics in a research note on Tuesday, March 17th. They set an “overweight” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Tenax Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Tenax Therapeutics Price Performance

The company has a market cap of $219.82 million, a PE ratio of -9.61 and a beta of 1.00. The business has a 50-day moving average of $13.80 and a 200 day moving average of $11.84.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.88. On average, equities analysts predict that Tenax Therapeutics, Inc. will post -2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of hedge funds have recently modified their holdings of TENX. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at $92,000. Boothbay Fund Management LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at $2,680,000. Citadel Advisors LLC grew its position in shares of Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after acquiring an additional 32,908 shares during the period. Millennium Management LLC grew its position in shares of Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock valued at $2,387,000 after acquiring an additional 79,998 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at $671,000. 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.