Tenax Therapeutics (NASDAQ:TENX) Shares Cross Above 200-Day Moving Average – Should You Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.35 and traded as high as $14.92. Tenax Therapeutics shares last traded at $14.01, with a volume of 614,522 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TENX. Cantor Fitzgerald began coverage on shares of Tenax Therapeutics in a research note on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price objective for the company. Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Guggenheim raised their target price on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Monday, December 22nd. One equities 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

Tenax Therapeutics Stock Performance

The firm has a market cap of $248.54 million, a PE ratio of -10.86 and a beta of 1.19. The firm has a fifty day simple moving average of $13.57 and a two-hundred day simple moving average of $11.41.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.88. Equities analysts forecast that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Trading of Tenax Therapeutics

Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics in the 3rd quarter worth about $92,000. Letko Brosseau & Associates Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter worth about $130,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics in the 4th quarter worth about $151,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics in the 4th quarter worth about $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter worth about $273,000. 1.67% of the stock is currently owned by institutional investors.

Tenax Therapeutics Company Profile

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.