Tenax Therapeutics (NASDAQ:TENX) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.54 and traded as high as $6.68. Tenax Therapeutics shares last traded at $6.52, with a volume of 14,478 shares.

Wall Street Analysts Forecast Growth

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

Tenax Therapeutics Price Performance

The stock’s 50-day moving average is $5.89 and its two-hundred day moving average is $4.56.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TENX. Sphera Funds Management LTD. bought a new stake in shares of Tenax Therapeutics during the third quarter valued at approximately $101,000. Vestal Point Capital LP purchased a new position in Tenax Therapeutics during the 3rd quarter worth $288,000. Finally, Stonepine Capital Management LLC bought a new stake in Tenax Therapeutics during 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.