Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Up 56.6% in December

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant growth in short interest in 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. Based on an average trading volume of 62,300 shares, the short-interest ratio is presently 3.3 days. Currently, 6.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Tenax Therapeutics

Several large investors have recently made changes to their positions in TENX. Vestal Point Capital LP bought a new position in Tenax Therapeutics during the 3rd quarter valued at about $288,000. Stonepine Capital Management LLC acquired a new stake in shares of Tenax Therapeutics during the third quarter worth approximately $173,000. Finally, Sphera Funds Management LTD. bought a new position in shares of Tenax Therapeutics in the third quarter valued at approximately $101,000. Institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Trading Up 9.9 %

Tenax Therapeutics stock opened at $6.30 on Friday. The stock has a fifty day moving average price of $5.14 and a two-hundred day moving average price of $4.09. Tenax Therapeutics has a 52-week low of $2.77 and a 52-week high of $27.33.

Analyst Upgrades and Downgrades

TENX has been the subject of a number of research reports. Guggenheim initiated coverage on Tenax Therapeutics in a research report on Monday, October 14th. They issued a “buy” rating and a $16.00 price objective for the company. Leerink Partners assumed coverage on shares of Tenax Therapeutics in a research note on Thursday, October 24th. They set an “outperform” rating and a $16.00 price target on the stock. Leerink Partnrs upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. William Blair began coverage on shares of Tenax Therapeutics in a research report on Monday, September 30th. They set an “outperform” rating on the stock. Finally, StockNews.com started coverage on shares of 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

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.