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

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 105,800 shares, an increase of 403.8% from the October 15th total of 21,000 shares. Based on an average trading volume of 57,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 3.6% of the company’s stock are sold short.

Tenax Therapeutics Price Performance

NASDAQ:TENX traded down $0.07 during mid-day trading on Tuesday, hitting $4.93. 12,743 shares of the company’s stock traded hands, compared to its average volume of 264,578. The firm has a 50 day moving average of $3.91 and a two-hundred day moving average of $3.66. Tenax Therapeutics has a 12 month low of $2.77 and a 12 month high of $61.20.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, August 13th. The specialty pharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.99) by $0.16. Research analysts predict that Tenax Therapeutics will post -6.62 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Tenax Therapeutics Company Profile

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.