Tenax Therapeutics Inc (Nasdaq:TENX)
November 7th, 2018
Amidst rising markets Tenax Therapeutics Inc finished Wednesday’s trading session down 19.06%, a $1.01 decrease to close on $4.29. Sadly, in addition to dropping TENX ended up closing the day at a new 52 week low.As well as the drop in value, Tenax Therapeutics Inc hit a new 52 week low of $4.29, breaking the previous low of $4.61 from earlier this July. Despite the drop in value, trading volumes were solid at 1,555% of normal which can indicate investor opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -40.11.
TENX was outperformed by the rest of the Healthcare sector which went up 2.94%.
Wednesday saw a swing up in all sectors of the market with Consumer Discretionary leading the pack with a 3.12% increase. Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector declining 7.75%.
- Consumer Discretionary went up with a 3.12% change.
- Healthcare went up with a 2.94% change.
- Information Technology went up with a 2.88% change.
- Communication Services went up with a 1.93% change.
- Materials went up with a 1.90% change.
- Industrials went up with a 1.68% change.
- Energy went up with a 1.61% change.
- Financials went up with a 1.34% change.
- Real Estate went up with a 1.14% change.
- Utilities went up with a 1.08% change.
- Consumer Staples went up with a 0.56% change.
Tenax Therapeutics Inc Info
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. The company was formerly known as Oxygen Biotherapeutics, Inc. and changed its name to Tenax Therapeutics, Inc. in September 2014. Tenax Therapeutics, Inc. was founded in 1967 and is headquartered in Morrisville, North Carolina.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Tenax Therapeutics Inc’s score is -40.11) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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