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

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.88 and traded as high as $7.69. Tenax Therapeutics shares last traded at $7.30, with a volume of 25,076 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on TENX shares. Leerink Partners started coverage on Tenax Therapeutics in a research report on Thursday, October 24th. They set an “outperform” rating and a $16.00 price objective on the stock. Leerink Partnrs raised Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tenax Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Tenax Therapeutics Stock Performance

The business’s 50-day moving average price is $6.29 and its 200-day moving average price is $4.91.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TENX. Vestal Point Capital LP purchased a new stake in Tenax Therapeutics in the 3rd quarter worth $288,000. Stonepine Capital Management LLC purchased a new stake in Tenax Therapeutics in the 3rd quarter worth $173,000. Sphera Funds Management LTD. purchased a new stake in Tenax Therapeutics in the 3rd quarter worth $101,000. Finally, Geode Capital Management LLC lifted its stake in Tenax Therapeutics by 32.4% in the 4th 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 in the last quarter. Institutional investors own 1.67% of the company’s stock.

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.