Armistice Capital LLC recently announced the acquisition of new stake in Tenax Therapeutics Inc. (NASDAQ:TENX). The institutional investor has increased its shareholding in the Healthcare company by 23.09% to 1.97 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 7.80% valued currently at $0.26 million. In addition, Renaissance Technologies LLC raised its holdings by 75398.0 to 0.14 million shares. And Millennium Management LLC has lifted its position by 630.94% or 68041.0 shares – to 78825.0 shares.
With over 5.03 million Tenax Therapeutics Inc. (TENX) shares trading Tuesday and a closing price of $0.14 on the day, the dollar volume was approximately $0.7 million. The shares have shown a negative half year performance of -78.36% and its price on 11/29/22 lost nearly -6.11%. Currently, there are 44.70M common shares owned by the public and among those 35.57M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TENX have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00. The average price target is 96.89% above its recent price level and an upside to the estimated low will see the stock gain 97.2% over that period. But an upside of 97.2% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 2,477,456 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 2,477,456 shares.
The top 3 mutual fund holders in Tenax Therapeutics Inc. are Vanguard Extended Market Index Fu, Fidelity Nasdaq Composite Index F, and Fidelity Series Total Market Inde. Vanguard Extended Market Index Fu owns 0.17 million shares of the company’s stock, all valued at over $22942.0. Fidelity Series Total Market Inde now owns shares totaling to 0.08% of the shares outstanding.
However, the script later moved the day high at 0.1537, down -6.11%. The company’s stock has a 5-day price change of 18.70% and -40.82% over the past three months. TENX shares are trading -86.27% year to date (YTD), with the 12-month market performance down to -89.10% lower. It has a 12-month low price of $0.08 and touched a high of $1.46 over the same period. TENX has an average intraday trading volume of 4.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.17%, -4.02%, and -65.23% respectively.
Institutional ownership of Tenax Therapeutics Inc. (NASDAQ: TENX) shares accounts for 16.30% of the company’s 44.70M shares outstanding. Mutual fund holders own 28.00%, while other institutional holders and individual stakeholders account for 44.04% and 0.90% respectively.
It has a market capitalization of $5.69M and a beta (3y monthly) value of 1.95. The earnings-per-share (ttm) stands at -$0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.61% over the week and 25.98% over the month.
Analysts forecast that Tenax Therapeutics Inc. (TENX) will achieve an EPS of -$0.1 for the current quarter, -$0.09 for the next quarter and -$0.12 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.70%, and 67.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Tenax Therapeutics Inc. (TENX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
MLV & Co coverage for the Tenax Therapeutics Inc. (TENX) stock in a research note released on December 16, 2014 offered a Buy rating with a price target of $7.