Tenax Therapeutics (NASDAQ:TENX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.25 and traded as high as $6.59. Tenax Therapeutics shares last traded at $6.28, with a volume of 31,318 shares.

Wall Street Analysts Forecast Growth

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

Tenax Therapeutics Stock Up 1.0 %

The stock’s 50-day moving average price is $5.40 and its 200 day moving average price is $4.25.

Institutional Trading of Tenax Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TENX. Vestal Point Capital LP acquired a new stake in Tenax Therapeutics in the third quarter valued at $288,000. Sphera Funds Management LTD. bought a new stake in shares of Tenax Therapeutics during the third quarter worth approximately $101,000. Finally, Stonepine Capital Management LLC bought a new stake in Tenax Therapeutics in the 3rd quarter valued at $173,000. Institutional investors own 1.67% of the company’s stock.

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.