Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Rises By 275.8%

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 730,696 shares, a growth of 275.8% from the April 15th total of 194,456 shares. Based on an average daily trading volume, of 639,900 shares, the short-interest ratio is presently 1.1 days. Currently, 4.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Tenax Therapeutics

Large investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the third quarter valued at about $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics during the fourth quarter worth about $130,000. Corient Private Wealth LLC purchased a new stake in Tenax Therapeutics during the 4th quarter valued at about $151,000. Quadrature Capital Ltd purchased a new stake in Tenax Therapeutics during the 4th quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics in the 4th quarter valued at about $273,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Price Performance

TENX stock traded up $0.08 during trading on Friday, hitting $11.98. The stock had a trading volume of 772,998 shares, compared to its average volume of 436,407. Tenax Therapeutics has a twelve month low of $5.34 and a twelve month high of $18.38. The company’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $12.15. The stock has a market capitalization of $206.06 million, a P/E ratio of -8.56 and a beta of 1.00.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, sell-side analysts expect that Tenax Therapeutics will post -1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TENX. Guggenheim lifted their price objective on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, March 16th. William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Cantor Fitzgerald assumed coverage on Tenax Therapeutics in a research report on Tuesday, March 17th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

About Tenax Therapeutics

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.