Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Purchases 254,342 Shares of Company Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 254,342 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was bought at an average price of $1.60 per share, with a total value of $406,947.20. Following the completion of the acquisition, the insider directly owned 7,115,021 shares in the company, valued at approximately $11,384,033.60. This represents a 3.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, October 21st, Adar1 Capital Management, Llc bought 331,979 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.66 per share, with a total value of $551,085.14.
• On Monday, October 19th, Adar1 Capital Management, Llc bought 336,528 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.51 per share, for a total transaction of $508,157.28.
• On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.78 per share, for a total transaction of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc purchased 403,571 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.79 per share, with a total value of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc acquired 716,369 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.77 per share, with a total value of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc acquired 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Performance

Tenax Therapeutics stock opened at $1.63 on Thursday. The stock’s 50 day simple moving average is $1.85 and its two-hundred day simple moving average is $9.15. The stock has a market cap of $61.00 million, a price-to-earnings ratio of -1.10 and a beta of 0.92. Tenax Therapeutics, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. On average, analysts predict that Tenax Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds have recently bought and sold shares of TENX. Janus Henderson Group PLC boosted its stake in Tenax Therapeutics by 989.3% during the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after acquiring an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Tenax Therapeutics by 229.7% in the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after purchasing an additional 1,008,640 shares during the period. Braidwell LP purchased a new stake in Tenax Therapeutics in the second quarter worth about $8,503,000. Bank of New York Mellon Corp bought a new position in shares of Tenax Therapeutics during the second quarter valued at approximately $4,733,000. Finally, Avidity Partners Management LP bought a new position in shares of Tenax Therapeutics during the first quarter valued at approximately $3,453,000. Institutional investors own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Chardan Capital lowered Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Tuesday, August 11th. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. Guggenheim downgraded Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 31st. Finally, Weiss Ratings lowered Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tenax Therapeutics currently has a consensus rating of “Hold” and an average target price of $14.00.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company’s research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax’s primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.