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

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.05 and traded as high as $5.67. Tenax Therapeutics shares last traded at $5.49, with a volume of 4,397 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com started coverage on Tenax Therapeutics in a research note on Thursday, September 26th. They set a “sell” rating on the stock. Leerink Partnrs upgraded Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. Guggenheim assumed coverage on shares of Tenax Therapeutics in a report on Monday, October 14th. They issued a “buy” rating and a $16.00 price objective for the company. William Blair began coverage on shares of Tenax Therapeutics in a report on Monday, September 30th. They set an “outperform” rating on the stock. Finally, Leerink Partners initiated coverage on shares of Tenax Therapeutics in a report on Thursday, October 24th. They issued an “outperform” rating and a $16.00 price target for the company. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Tenax Therapeutics Stock Performance

The stock has a 50 day moving average of $5.07 and a 200 day moving average of $4.06.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently modified their holdings of TENX. Sphera Funds Management LTD. bought a new position in Tenax Therapeutics in the 3rd quarter worth approximately $101,000. Stonepine Capital Management LLC acquired a new position in Tenax Therapeutics during the 3rd quarter worth $173,000. Finally, Vestal Point Capital LP bought a new position in shares of Tenax Therapeutics in the third quarter worth $288,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

About Tenax Therapeutics

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.