Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Buys $508,157.28 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 336,528 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was purchased at an average cost of $1.51 per share, with a total value of $508,157.28. Following the completion of the acquisition, the insider directly owned 6,860,679 shares of the company’s stock, valued at approximately $10,359,625.29. This trade represents a 5.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock 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 shares were acquired at an average cost of $1.66 per share, with a total value of $551,085.14.
• On Tuesday, October 20th, Adar1 Capital Management, Llc purchased 254,342 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.60 per share, with a total value of $406,947.20.
• On Thursday, September 3rd, Adar1 Capital Management, Llc acquired 900,000 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.78 per share, with a total value of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc acquired 179,058 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.75 per share, for a total transaction of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc purchased 202,124 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Trading Down 2.3%

Shares of NASDAQ:TENX opened at $1.72 on Friday. The company has a 50 day moving average of $1.85 and a 200-day moving average of $9.01. The firm has a market cap of $64.36 million, a P/E ratio of -1.16 and a beta of 0.92. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month 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, topping analysts’ consensus estimates of ($0.38) by $0.03. Equities research analysts forecast that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in Tenax Therapeutics by 989.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after buying an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Tenax Therapeutics by 229.7% during 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 last quarter. Braidwell LP acquired a new stake in Tenax Therapeutics in the 2nd quarter valued at $8,503,000. Bank of New York Mellon Corp bought a new stake in Tenax Therapeutics during the 2nd quarter worth about $4,733,000. Finally, Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics during the 1st quarter worth about $3,453,000. 1.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore downgraded Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price for the company. in a report on Tuesday, August 11th. Roth Capital set a $5.00 target price on Tenax Therapeutics in a report on Monday, August 10th. Wall Street Zen downgraded shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, UBS Group downgraded Tenax Therapeutics to a “neutral” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tenax Therapeutics presently has a consensus rating of “Hold” and an average price target of $14.00.

About Tenax Therapeutics

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.