Tenax Therapeutics (NASDAQ:TENX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.39 and traded as high as $6.49. Tenax Therapeutics shares last traded at $6.48, with a volume of 12,942 shares.

Analyst Ratings Changes

A number of research firms have commented on TENX. Guggenheim assumed coverage on Tenax Therapeutics in a research note on Monday, October 14th. They set a “buy” rating and a $16.00 price target on the stock. StockNews.com started coverage on shares of Tenax Therapeutics in a report on Thursday, September 26th. They set a “sell” rating on the stock. Leerink Partners began coverage on Tenax Therapeutics in a report on Thursday, October 24th. They issued an “outperform” rating and a $16.00 target price for the company. William Blair started coverage on Tenax Therapeutics in a research note on Monday, September 30th. They issued an “outperform” rating for the company. Finally, Leerink Partnrs upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tenax Therapeutics has an average rating of “Moderate Buy” and an average target price of $16.00.

Tenax Therapeutics Trading Up 0.8 %

The company has a 50-day moving average price of $5.63 and a 200-day moving average price of $4.39.

Hedge Funds Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sphera Funds Management LTD. purchased a new stake in shares of Tenax Therapeutics during the 3rd quarter worth approximately $101,000. Stonepine Capital Management LLC acquired a new stake in Tenax Therapeutics during the 3rd quarter worth $173,000. Finally, Vestal Point Capital LP acquired a new stake in Tenax Therapeutics during the 3rd quarter worth $288,000. 1.67% of the stock is owned by institutional investors and hedge funds.

Tenax Therapeutics Company Profile

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.