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

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 1,787,937 shares, a growth of 132.9% from the June 15th total of 767,532 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,507,495 shares, the short-interest ratio is currently 1.2 days.

Tenax Therapeutics Stock Down 8.9%

Tenax Therapeutics stock opened at $15.98 on Tuesday. Tenax Therapeutics has a 12-month low of $5.77 and a 12-month high of $19.40. The business’s 50-day moving average price is $12.72 and its two-hundred day moving average price is $13.33. The stock has a market cap of $423.79 million, a PE ratio of -11.41 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. As a group, analysts expect that Tenax Therapeutics will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Chardan Capital restated a “buy” rating and issued a $27.00 target price on shares of Tenax Therapeutics in a research report on Thursday, July 2nd. Piper Sandler increased their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Guggenheim reissued a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Tuesday, June 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Hedge Funds Weigh In On Tenax Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new position in Tenax Therapeutics in the 3rd quarter valued at approximately $2,680,000. Persistent Asset Partners Ltd acquired a new position in shares of Tenax Therapeutics during the fourth quarter worth $796,000. Stempoint Capital LP acquired a new position in shares of Tenax Therapeutics during the first quarter worth $3,017,000. Perceptive Advisors LLC lifted its stake in shares of Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after acquiring an additional 1,008,640 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Tenax Therapeutics by 989.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after acquiring an additional 1,648,808 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.