Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Declines By 27.8%

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 21,000 shares, a decrease of 27.8% from the September 30th total of 29,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 510,200 shares, the short-interest ratio is presently 0.0 days.

Tenax Therapeutics Trading Down 5.7 %

TENX stock traded down $0.28 during trading on Tuesday, reaching $4.59. 75,871 shares of the company’s stock were exchanged, compared to its average volume of 275,568. Tenax Therapeutics has a 1-year low of $2.77 and a 1-year high of $61.20. The company’s fifty day moving average price is $3.81 and its 200-day moving average price is $3.60.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Tuesday, August 13th. The specialty pharmaceutical company reported ($1.83) earnings per share for the quarter, topping the consensus estimate of ($1.99) by $0.16. As a group, research analysts expect that Tenax Therapeutics will post -6.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com started coverage on shares of Tenax Therapeutics in a report on Thursday, September 26th. They issued a “sell” rating on the stock. William Blair assumed coverage on Tenax Therapeutics in a report on Monday, September 30th. They issued an “outperform” rating on the stock. Guggenheim initiated coverage on Tenax Therapeutics in a research note on Monday, October 14th. They set a “buy” rating and a $16.00 price objective for the company. Leerink Partnrs raised Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, Leerink Partners assumed coverage on shares of Tenax Therapeutics in a report on Thursday, October 24th. They set an “outperform” rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

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.