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

Tenax Therapeutics, Inc. (NASDAQ:TENX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.03 and traded as high as $13.21. Tenax Therapeutics shares last traded at $12.92, with a volume of 92,053 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TENX shares. Wall Street Zen upgraded Tenax Therapeutics to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Monday, December 22nd. Finally, Guggenheim reiterated a “buy” rating and set a $25.00 price objective (up from $14.00) on shares of Tenax Therapeutics in a research report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Tenax Therapeutics Stock Performance

The stock has a market capitalization of $80.62 million, a P/E ratio of -11.43 and a beta of 1.41. The business has a fifty day simple moving average of $12.97 and a 200-day simple moving average of $9.03.

Tenax Therapeutics (NASDAQ:TENX) last released its earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.93. On average, sell-side analysts anticipate that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current year.

Insider Activity

In other news, CFO Thomas Mcgauley bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average cost of $7.25 per share, with a total value of $43,500.00. Following the transaction, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at approximately $36,250. This represents a -600.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stuart Rich purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $25,250.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at $50,500. This trade represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 18,105 shares of company stock valued at $149,053. 3.14% of the stock is currently owned by company insiders.

Institutional Trading of Tenax Therapeutics

Several hedge funds have recently bought and sold shares of TENX. Boothbay Fund Management LLC acquired a new position in Tenax Therapeutics during the third quarter worth $2,680,000. Millennium Management LLC raised its holdings in shares of Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after acquiring an additional 79,998 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Tenax Therapeutics by 121.9% in the 4th quarter. Renaissance Technologies LLC now owns 125,579 shares of the specialty pharmaceutical company’s stock worth $1,531,000 after acquiring an additional 68,979 shares during the last quarter. Woodline Partners LP acquired a new position in Tenax Therapeutics during the 3rd quarter valued at about $671,000. Finally, Geode Capital Management LLC increased its holdings in Tenax Therapeutics by 61.8% during the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after purchasing an additional 21,274 shares in the last quarter. Institutional investors and hedge funds own 1.67% of the company’s stock.

About Tenax Therapeutics

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.