Tenax Therapeutics Inc. [NASDAQ: TENX] traded at a high on 02/02/23, posting a 30.77 gain after which it closed the day’ session at $2.21. The company report on February 1, 2023 that Tenax Granted Notice of Allowance for U.S. Patent Application Covering Use of IV Levosimendan in Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF).
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Patent is expected to provide additional intellectual property protection until 2040.
Prevalence estimates indicate that PH-HFpEF affects over 1,500,000 patients in the U.S.
The results of the trading session contributed to over 28626299 shares changing hands. Over the past one week, the price volatility of Tenax Therapeutics Inc. stands at 29.06% while the volatility over the past one month is 18.79%.
The market cap for TENX stock reached $4.73 million, with 26.33 million shares outstanding and 1.83 million shares in the current float. Compared to the average trading volume of 382.83K shares, TENX reached a trading volume of 28626299 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Tenax Therapeutics Inc. [TENX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TENX shares is $90.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TENX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Tenax Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2017. While these analysts kept the previous recommendation, MLV & Co raised their target price to Buy. The new note on the price target was released on December 16, 2014, representing the official price target for Tenax Therapeutics Inc. stock. Previously, the target price had yet another raise to $12, while WallachBeth analysts kept a Buy rating on TENX stock.
The Average True Range (ATR) for Tenax Therapeutics Inc. is set at 0.48 The Price to Book ratio for the last quarter was 14.73.
How has TENX stock performed recently?
Tenax Therapeutics Inc. [TENX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.25. With this latest performance, TENX shares dropped by -0.18% in over the last four-week period, additionally sinking by -58.08% over the last 6 months – not to mention a drop of -83.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TENX stock in for the last two-week period is set at 47.86, with the RSI for the last a single of trading hit 49.15, and the three-weeks RSI is set at 47.15 for Tenax Therapeutics Inc. [TENX]. The present Moving Average for the last 50 days of trading for this stock 2.5000, while it was recorded at 2.0900 for the last single week of trading, and 5.7700 for the last 200 days.
Tenax Therapeutics Inc. [TENX]: Deeper insight into the fundamentals
Tenax Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.50.
Insider trade positions for Tenax Therapeutics Inc. [TENX]
There are presently around $9 million, or 16.30% of TENX stock, in the hands of institutional investors. The top three institutional holders of TENX stocks are: GOFEN & GLOSSBERG LLC /IL/ with ownership of 3,819,170, which is approximately 1899.995% of the company’s market cap and around 9.10% of the total institutional ownership; ARMISTICE CAPITAL, LLC, holding 98,294 shares of the stock with an approximate value of $0.22 million in TENX stocks shares; and BLACKROCK INC., currently with $53000.0 in TENX stock with ownership of nearly 0% of the company’s market capitalization.
14 institutional holders increased their position in Tenax Therapeutics Inc. [NASDAQ:TENX] by around 3,659,526 shares. Additionally, 6 investors decreased positions by around 16,507 shares, while 8 investors held positions by with 313,500 shares. The mentioned changes placed institutional holdings at 3,989,533 shares, according to the latest SEC report filing. TENX stock had 7 new institutional investments in for a total of 5,505 shares, while 5 institutional investors sold positions of 7,248 shares during the same period.