Tenax Therapeutics (NASDAQ:TENX) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.78 and traded as high as $16.95. Tenax Therapeutics shares last traded at $16.00, with a volume of 557,161 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Cantor Fitzgerald started coverage on Tenax Therapeutics in a report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday, December 22nd. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Guggenheim raised their target price on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

Tenax Therapeutics Stock Performance

The company has a market cap of $258.34 million, a price-to-earnings ratio of -11.29 and a beta of 1.19. The stock has a 50 day moving average price of $13.33 and a two-hundred day moving average price of $10.80.

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

Institutional Trading of Tenax Therapeutics

Hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC bought a new position in Tenax Therapeutics during the 4th quarter worth approximately $5,353,000. Boothbay Fund Management LLC bought a new position in shares of Tenax Therapeutics during the third quarter worth $2,680,000. Diadema Partners LP bought a new position in shares of Tenax Therapeutics during the fourth quarter worth $2,964,000. Sphera Funds Management LTD. acquired a new position in shares of Tenax Therapeutics in the 4th quarter valued at $2,317,000. Finally, Marshall Wace LLP increased its position in shares of Tenax Therapeutics by 68.2% in the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock valued at $3,634,000 after buying an additional 120,944 shares in the last quarter. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.