Tenax Therapeutics, Inc. (NASDAQ:TENX) Sees Significant Increase in Short Interest

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 24,000 shares, an increase of 103.4% from the June 30th total of 11,800 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 23,400 shares, the days-to-cover ratio is currently 1.0 days.

Tenax Therapeutics Stock Up 2.1 %

Shares of NASDAQ TENX opened at $3.39 on Friday. Tenax Therapeutics has a 12-month low of $2.77 and a 12-month high of $61.20. The stock’s fifty day simple moving average is $3.32 and its two-hundred day simple moving average is $4.84.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Tuesday, May 14th. The specialty pharmaceutical company reported ($3.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.72). As a group, equities research analysts anticipate that Tenax Therapeutics will post -7.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tenax Therapeutics in a report on Wednesday. They issued a “sell” rating for the company.

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.