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

Tenax Therapeutics, Inc. (NASDAQ:TENX) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 105,800 shares, a growth of 403.8% from the October 15th total of 21,000 shares. Based on an average daily volume of 57,000 shares, the short-interest ratio is presently 1.9 days. Currently, 3.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Tenax Therapeutics Stock Down 1.4 %

Shares of Tenax Therapeutics stock traded down $0.07 during trading on Tuesday, reaching $4.93. 12,743 shares of the company were exchanged, compared to its average volume of 264,578. Tenax Therapeutics has a twelve month low of $2.77 and a twelve month high of $61.20. The business has a 50-day moving average price of $3.91 and a 200-day moving average price of $3.66.

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

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.