Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Drops By 27.8%

Tenax Therapeutics, Inc. (NASDAQ:TENX) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 21,000 shares, a decrease of 27.8% from the September 30th total of 29,100 shares. Based on an average daily trading volume, of 510,200 shares, the short-interest ratio is presently 0.0 days. Approximately 0.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TENX shares. Leerink Partners began coverage on Tenax Therapeutics in a report on Thursday, October 24th. They set an “outperform” rating and a $16.00 target price on the stock. Leerink Partnrs upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. StockNews.com started coverage on shares of Tenax Therapeutics in a research note on Thursday, September 26th. They issued a “sell” rating for the company. William Blair began coverage on shares of Tenax Therapeutics in a research note on Monday, September 30th. They set an “outperform” rating on the stock. Finally, Guggenheim started coverage on shares of Tenax Therapeutics in a research report on Monday, October 14th. They issued a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Tenax Therapeutics Price Performance

TENX stock traded down $0.28 during mid-day trading on Tuesday, hitting $4.59. 75,871 shares of the company were exchanged, compared to its average volume of 275,568. The firm has a fifty day simple moving average of $3.81 and a 200 day simple moving average of $3.60. Tenax Therapeutics has a twelve month low of $2.77 and a twelve month high of $61.20.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Tuesday, August 13th. The specialty pharmaceutical company reported ($1.83) earnings per share for the quarter, beating the consensus estimate of ($1.99) by $0.16. As a group, research analysts anticipate that Tenax Therapeutics will post -6.62 earnings per share for the current fiscal year.

About Tenax Therapeutics

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.