Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Declines By 49.4%

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 36,700 shares, a decline of 49.4% from the February 29th total of 72,500 shares. Based on an average daily trading volume, of 333,600 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.2% of the company’s stock are sold short.

Tenax Therapeutics Stock Performance

Shares of TENX stock traded up $0.10 on Thursday, reaching $3.97. 27,412 shares of the company’s stock traded hands, compared to its average volume of 354,946. The business’s 50 day moving average price is $6.17 and its two-hundred day moving average price is $16.92. Tenax Therapeutics has a 12-month low of $3.48 and a 12-month high of $61.20.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TENX. StockNews.com began coverage on Tenax Therapeutics in a report on Wednesday, January 10th. They set a “sell” rating on the stock. Roth Mkm reiterated a “buy” rating on shares of Tenax Therapeutics in a report on Tuesday, February 20th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tenax Therapeutics stock. Vanguard Group Inc. bought a new stake in Tenax Therapeutics, Inc. (NASDAQ:TENX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 186,046 shares of the specialty pharmaceutical company’s stock, valued at approximately $51,000. Vanguard Group Inc. owned approximately 62.02% of Tenax Therapeutics at the end of the most recent reporting period. 1.67% of the stock is owned by institutional investors.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension. It 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.