Tenax Therapeutics Inc (Nasdaq:TENX)
December 5th, 2018
Amidst falling markets Tenax Therapeutics Inc finished Tuesday’s trading session down 12.16%, a $0.27 decrease to close on $1.95. As well as the drop in value, Tenax Therapeutics Inc hit a new 52 week low of $1.90, breaking the previous low of $2.10 from earlier this July. Despite the drop in value, trading volumes were solid at 356% 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 -43.71.
TENX was outperformed by the rest of the Healthcare sector which went down only 2.30%.
The market sectors were mixed Wednesday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.15%), while Financials saw the biggest drop (4.40%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector falling 13%.
Utilities saw the biggest turnaround from its 5-day performance of 2.31%, as it went up 0.15%. Industrials and Consumer Discretionary experienced turn arounds from their five day positive performance, Industrials with a drop of 4.35%.
- Utilities went up with a 0.15% change.
- Real Estate went down with a -1.26% change.
- Consumer Staples went down with a -1.63% change.
- Healthcare went down with a -2.30% change.
- Energy went down with a -2.93% change.
- Materials went down with a -3.08% change.
- Communication Services went down with a -3.14% change.
- Information Technology went down with a -3.86% change.
- Consumer Discretionary went down with a -3.91% change.
- Industrials went down with a -4.35% change.
- Financials went down with a -4.40% 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 -43.71) 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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