Could Tenax Therapeutics Inc (NASDAQ:TENX) See a Reversal After More Sellers Came In?

April 16, 2018 - By Maria Brooks

The stock of Tenax Therapeutics Inc (NASDAQ:TENX) registered an increase of 25.1% in short interest. TENX’s total short interest was 1.26M shares in April as published by FINRA. Its up 25.1% from 1.01M shares, reported previously. With 478,300 shares average volume, it will take short sellers 3 days to cover their TENX’s short positions. The short interest to Tenax Therapeutics Inc’s float is 5.77%.

The stock decreased 2.71% or $0.1699 during the last trading session, reaching $6.1001. About 15,138 shares traded. Tenax Therapeutics, Inc. (NASDAQ:TENX) has declined 45.88% since April 16, 2017 and is downtrending. It has underperformed by 57.43% the S&P500.

Tenax Therapeutics, Inc., a specialty pharmaceutical company, focused on the identification, development, and commercialization of a portfolio of products for the critical care market in the United States and Canada. The company has market cap of $8.71 million. It focuses on the development and commercialization of pharmaceutical products containing levosimendan, 2.5 mg/ml concentrate for solution for infusion/5ml vial for use in the reduction of morbidity and mortality in cardiac surgery patients at risk for developing Low Cardiac Output Syndrome. It currently has negative earnings. The firm was formerly known as Oxygen Biotherapeutics, Inc. and changed its name to Tenax Therapeutics, Inc. in September 2014.

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