Tenax Therapeutics (NASDAQ:TENX) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.78 and traded as high as $5.85. Tenax Therapeutics shares last traded at $5.66, with a volume of 7,458 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on TENX. Leerink Partners set a $20.00 price target on shares of Tenax Therapeutics in a research note on Monday, March 10th. StockNews.com initiated coverage on shares of Tenax Therapeutics in a research note on Tuesday, April 22nd. They issued a “sell” rating for the company. Finally, William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tenax Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Tenax Therapeutics Stock Performance

The company has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $5.78. The company has a market cap of $23.48 million, a P/E ratio of -1.06 and a beta of 1.88.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Tuesday, March 25th. The specialty pharmaceutical company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.34. Research analysts anticipate that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Tenax Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Tenax Therapeutics by 32.4% in the 4th quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock valued at $151,000 after acquiring an additional 5,964 shares during the period. Janus Henderson Group PLC bought a new position in Tenax Therapeutics during the fourth quarter worth about $1,026,000. Millennium Management LLC acquired a new position in Tenax Therapeutics during the fourth quarter worth approximately $166,000. Finally, Two Sigma Investments LP bought a new stake in Tenax Therapeutics in the fourth quarter valued at approximately $84,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.