Tenax Therapeutics (NASDAQ:TENX) Stock Passes Above 200-Day Moving Average – Time to Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price passed 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 traded.

Analyst Upgrades and Downgrades

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

Tenax Therapeutics Trading Down 1.2 %

The company has a 50-day moving average price of $5.70 and a two-hundred day moving average price of $4.42.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TENX. Sphera Funds Management LTD. bought a new stake in shares of Tenax Therapeutics in the 3rd quarter worth about $101,000. Stonepine Capital Management LLC purchased a new stake in Tenax Therapeutics in the 3rd quarter worth about $173,000. Finally, Vestal Point Capital LP bought a new stake in Tenax Therapeutics in the third quarter worth about $288,000. Institutional investors 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.