Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Update

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 553,700 shares, an increase of 101.1% from the September 15th total of 275,400 shares. Based on an average trading volume of 61,300 shares, the days-to-cover ratio is currently 9.0 days. Approximately 14.5% of the company’s stock are sold short. Approximately 14.5% of the company’s stock are sold short. Based on an average trading volume of 61,300 shares, the days-to-cover ratio is currently 9.0 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TENX. Piper Sandler began coverage on Tenax Therapeutics in a report on Monday, September 8th. They issued an “overweight” rating and a $20.00 price objective on the stock. Guggenheim dropped their price objective on Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, October 14th. 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. Based on data from MarketBeat.com, Tenax Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Tenax Therapeutics Stock Up 7.8%

NASDAQ:TENX opened at $7.22 on Wednesday. The stock’s 50 day moving average price is $6.56 and its 200 day moving average price is $6.09. The company has a market capitalization of $32.92 million, a PE ratio of -7.85 and a beta of 1.58. Tenax Therapeutics has a 52-week low of $4.04 and a 52-week high of $8.24.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Wednesday, August 13th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.23. As a group, sell-side analysts anticipate that Tenax Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Trading of Tenax Therapeutics

A hedge fund recently raised its stake in Tenax Therapeutics stock. ADAR1 Capital Management LLC boosted its stake in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) by 98.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,741 shares of the specialty pharmaceutical company’s stock after acquiring an additional 34,048 shares during the quarter. ADAR1 Capital Management LLC owned about 1.66% of Tenax Therapeutics worth $450,000 as of its most recent filing with the Securities and Exchange Commission. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.