Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Acquires $322,304.40 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 179,058 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price of $1.80 per share, for a total transaction of $322,304.40. Following the acquisition, the insider owned 5,436,447 shares of the company’s stock, valued at approximately $9,785,604.60. The trade was a 3.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 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, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The shares were purchased at an average cost of $1.80 per share, with a total value of $337,867.20.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.79 per share, with a total value of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.75 per share, for a total transaction of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Stock Up 2.8%

Shares of Tenax Therapeutics stock traded up $0.05 on Wednesday, reaching $1.85. The company’s stock had a trading volume of 2,770,370 shares, compared to its average volume of 2,016,301. The company has a market capitalization of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.83. The firm’s fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $12.07. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40.

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

Institutional Trading of Tenax Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after acquiring an additional 1,648,808 shares during the period. Perceptive Advisors LLC grew its position 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 valued at $23,150,000 after buying an additional 1,008,640 shares during the period. Braidwell LP bought a new stake in Tenax Therapeutics during the second quarter valued at approximately $8,503,000. Siren L.L.C. increased its holdings in Tenax Therapeutics by 21.2% during the fourth quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock valued at $5,207,000 after buying an additional 74,700 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Tenax Therapeutics during the second quarter valued at approximately $4,733,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TENX. Guggenheim cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday. UBS Group lowered shares of Tenax Therapeutics to a “neutral” rating in a research note on Monday. Leerink Partners set a $4.00 price objective on shares of Tenax Therapeutics in a report on Tuesday, August 11th. Evercore downgraded shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, August 11th. Finally, Piper Sandler raised their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

About Tenax Therapeutics

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.