Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Update

Tenax Therapeutics, Inc. (NASDAQ:TENX) saw a significant decrease in short interest in September. As of September 15th, there was short interest totaling 5,503,842 shares, a decrease of 40.7% from the August 31st total of 9,276,905 shares. Currently, 16.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,350,727 shares, the short-interest ratio is currently 1.0 days.

Tenax Therapeutics Stock Down 1.8%

Shares of Tenax Therapeutics stock opened at $1.81 on Wednesday. The stock has a market cap of $67.58 million, a PE ratio of -1.23 and a beta of 0.83. The business has a fifty day simple moving average of $5.14 and a 200-day simple moving average of $10.60. Tenax Therapeutics has a 12 month low of $1.31 and a 12 month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Analysts expect that Tenax Therapeutics will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TENX shares. William Blair lowered Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Piper Sandler upped their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. UBS Group lowered shares of Tenax Therapeutics to a “neutral” rating in a research note on Monday, August 31st. Canaccord Genuity Group set a $4.00 target price on shares of Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Guggenheim downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.00.

Insider Buying and Selling at Tenax Therapeutics

In related news, Director Declan Doogan acquired 53,000 shares of Tenax Therapeutics stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $1.92 per share, with a total value of $101,760.00. Following the purchase, the director directly owned 55,274 shares in the company, valued at $106,126.08. The trade was a 2,330.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Adar1 Capital Management, Llc bought 900,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average price of $1.78 per share, for a total transaction of $1,602,000.00. Following the completion of the acquisition, the insider directly owned 6,524,151 shares in the company, valued at approximately $11,612,988.78. The trade was a 16.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 2,760,050 shares of company stock worth $4,922,089 in the last ninety days. 10.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenax Therapeutics

A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after purchasing an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC lifted its position in 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 worth $23,150,000 after buying an additional 1,008,640 shares in the last quarter. Braidwell LP purchased a new stake in Tenax Therapeutics in the 2nd quarter worth approximately $8,503,000. Bank of New York Mellon Corp acquired a new stake in shares of Tenax Therapeutics during the 2nd quarter valued at $4,733,000. Finally, Avidity Partners Management LP acquired a new stake in shares of Tenax Therapeutics during the 1st quarter valued at $3,453,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company’s primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.