Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Acquires $1,267,973.13 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $1.77 per share, with a total value of $1,267,973.13. Following the completion of the acquisition, the insider owned 4,746,444 shares in the company, valued at approximately $8,401,205.88. This trade represents a 17.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, for a total transaction of $187,904.50.
• On Thursday, August 20th, Adar1 Capital Management, Llc acquired 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Stock Performance

NASDAQ:TENX opened at $2.12 on Thursday. The firm’s 50-day moving average is $11.38 and its 200-day moving average is $12.37. The company has a market cap of $79.33 million, a price-to-earnings ratio of -1.43 and a beta of 0.93. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last released its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. Equities analysts predict that Tenax Therapeutics, Inc. will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TENX. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics in the 3rd quarter worth approximately $92,000. Letko Brosseau & Associates Inc. bought a new position in shares of Tenax Therapeutics during the 4th quarter worth approximately $130,000. Corient Private Wealth LLC acquired a new stake in Tenax Therapeutics in the 4th quarter valued at $151,000. Quadrature Capital Ltd acquired a new stake in Tenax Therapeutics in the 4th quarter valued at $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in Tenax Therapeutics in the fourth quarter valued at $273,000. Institutional investors own 1.67% of the company’s stock.

Analyst Ratings Changes

TENX has been the topic of several recent research reports. Guggenheim set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. Roth Capital set a $5.00 target price on Tenax Therapeutics in a research note on Monday, August 10th. Canaccord Genuity Group set a $4.00 target price on Tenax Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.