Tenax Therapeutics (NASDAQ:TENX) Stock Crosses Above 200 Day Moving Average – Here’s Why

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.54 and traded as high as $6.68. Tenax Therapeutics shares last traded at $6.52, with a volume of 14,478 shares trading hands.

Wall Street Analyst Weigh In

TENX has been the topic of several recent research reports. Guggenheim started coverage on Tenax Therapeutics in a research report on Monday, October 14th. They set a “buy” rating and a $16.00 price target on the stock. Leerink Partners started coverage on shares of Tenax Therapeutics in a research note on Thursday, October 24th. They set an “outperform” rating and a $16.00 price objective for the company. Leerink Partnrs upgraded Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, October 24th. Finally, William Blair started coverage on Tenax Therapeutics in a report on Monday, September 30th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Tenax Therapeutics Price Performance

The firm has a fifty day moving average of $5.89 and a 200 day moving average of $4.56.

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 stake in Tenax Therapeutics in the 3rd quarter valued at $101,000. Vestal Point Capital LP purchased a new stake in shares of Tenax Therapeutics in the third quarter worth about $288,000. Finally, Stonepine Capital Management LLC bought a new position in Tenax Therapeutics during the third quarter valued at approximately $173,000. 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.