Tenax Therapeutics (TENX) Trading Down 17.3%

Tenax Therapeutics Inc (NASDAQ:TENX) shares were down 17.3% on Friday . The stock traded as low as $1.37 and last traded at $1.39. Approximately 14,087,744 shares were traded during mid-day trading, an increase of 8,138% from the average daily volume of 171,000 shares. The stock had previously closed at $1.68.

Separately, ValuEngine upgraded shares of Tenax Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th.

A hedge fund recently raised its stake in Tenax Therapeutics stock. Renaissance Technologies LLC raised its holdings in shares of Tenax Therapeutics Inc (NASDAQ:TENX) by 45.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 83,400 shares of the specialty pharmaceutical company’s stock after acquiring an additional 26,200 shares during the period. Renaissance Technologies LLC owned approximately 5.75% of Tenax Therapeutics worth $526,000 at the end of the most recent reporting period. 12.09% of the stock is owned by institutional investors and hedge funds.

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About Tenax Therapeutics (NASDAQ:TENX)

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. 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.

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