Is Tenax Therapeutics Inc (TENX) Going to Burn These Hedge Funds?

With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Armistice Capital, managed by Steven Boyd, created the most valuable position in Tenax Therapeutics Inc (NASDAQ:TENX), which was worth $0.3 million at the end of the quarter. Nathan Fischel’s DAFNA Capital Management also made a $0.2 million investment in the stock during the same period. The only other fund with a brand new TENX position is John Zaro’s Bourgeon Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Tenax Therapeutics Inc (NASDAQ:TENX) but similarly valued. These stocks are KEMET Corporation (NYSE:KEM), MAM Software Group Inc. (NASDAQ:MAMS), Pain Therapeutics, Inc. (NASDAQ:PTIE), and OHR Pharmaceutical Inc (NASDAQ:OHRP). All of these stocks’ market caps are closest to TENX’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $15 million, lower than the $29 million figure in TENX’s case. KEMET Corporation (NYSE:KEM) is the most popular stock in this table. On the other hand MAM Software Group Inc. (NASDAQ:MAMS) is the least popular one with only 4 bullish hedge fund positions. Tenax Therapeutics Inc (NASDAQ:TENX) is not the most popular stock in this group, but hedge fund interest is only slightly above average. This could be viewed as a positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard KEM might be a better candidate to consider a long position.