Tenax Therapeutics, Inc. (NASDAQ:TENX) Sees Large Decrease in Short Interest

by · The Markets Daily

Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 21,000 shares, a drop of 27.8% from the September 30th total of 29,100 shares. Based on an average daily trading volume, of 510,200 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on TENX

Tenax Therapeutics Price Performance

Shares of NASDAQ TENX traded up $0.12 during midday trading on Monday, hitting $4.87. 94,870 shares of the company’s stock traded hands, compared to its average volume of 276,528. Tenax Therapeutics has a 1 year low of $2.77 and a 1 year high of $61.20. The firm has a fifty day moving average of $3.80 and a 200 day moving average of $3.59.

Tenax Therapeutics (NASDAQ:TENX – Get Free Report) last released its earnings results on Tuesday, August 13th. The specialty pharmaceutical company reported ($1.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.99) by $0.16. Equities research analysts anticipate that Tenax Therapeutics will post -6.62 earnings per share for the current year.

Tenax Therapeutics Company Profile

(Get Free Report)

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.

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