Short Interest in Tenax Therapeutics, Inc. (NASDAQ:TENX) Increases By 56.6%

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 204,500 shares, a growth of 56.6% from the November 30th total of 130,600 shares. Currently, 6.9% of the shares of the company are short sold. Based on an average daily volume of 62,300 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TENX. Sphera Funds Management LTD. acquired a new position in Tenax Therapeutics during the third quarter worth $101,000. Stonepine Capital Management LLC purchased a new stake in shares of Tenax Therapeutics in the 3rd quarter worth about $173,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Tenax Therapeutics in the 3rd quarter worth about $288,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tenax Therapeutics Trading Up 9.9 %

TENX traded up $0.57 on Friday, hitting $6.30. 92,835 shares of the company were exchanged, compared to its average volume of 239,828. Tenax Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $27.33. The business’s fifty day moving average is $5.19 and its 200 day moving average is $4.11.

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.