Tenax Therapeutics (NASDAQ:TENX) Sets New 1-Year Low – Should You Sell?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.31 and last traded at $1.38, with a volume of 64619137 shares trading hands. The stock had previously closed at $13.44.

Analyst Upgrades and Downgrades

TENX has been the subject of a number of recent analyst reports. William Blair lowered shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Guggenheim restated a “buy” rating and issued a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Canaccord Genuity Group started coverage on Tenax Therapeutics in a research report on Tuesday, July 28th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Piper Sandler lifted their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Tenax Therapeutics Stock Down 89.7%

The business’s 50-day moving average price is $13.58 and its 200-day moving average price is $13.38. The firm has a market capitalization of $51.64 million, a PE ratio of -0.93 and a beta of 0.93.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, analysts anticipate that Tenax Therapeutics, Inc. will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of Tenax Therapeutics by 989.3% during the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after acquiring an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC grew its stake in Tenax Therapeutics by 229.7% in the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after purchasing an additional 1,008,640 shares in the last quarter. Siren L.L.C. increased its position in Tenax Therapeutics by 21.2% in the 4th quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock worth $5,207,000 after purchasing an additional 74,700 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Tenax Therapeutics during the 2nd quarter worth about $4,733,000. Finally, Millennium Management LLC raised its stake in shares of Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares in the last quarter. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.