Tenax Therapeutics (NASDAQ:TENX) Share Price Crosses 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 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 changing hands.

Analyst Upgrades and Downgrades

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

Tenax Therapeutics Price Performance

The business has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $4.42.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TENX. Sphera Funds Management LTD. bought a new position in shares of Tenax Therapeutics in the third quarter worth approximately $101,000. Stonepine Capital Management LLC bought a new position in Tenax Therapeutics in the 3rd quarter worth $173,000. Finally, Vestal Point Capital LP purchased a new stake in Tenax Therapeutics in the 3rd quarter worth $288,000. 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.