Adar1 Capital Management, Llc Buys 716,369 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $1.77 per share, for a total transaction of $1,267,973.13. Following the transaction, the insider directly owned 4,746,444 shares of the company’s stock, valued at approximately $8,401,205.88. This trade represents a 17.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 acquired at an average cost of $1.75 per share, for a total transaction of $187,904.50.
• On Thursday, August 20th, Adar1 Capital Management, Llc purchased 202,124 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Price Performance

Shares of NASDAQ:TENX traded up $0.10 during midday trading on Monday, reaching $1.85. 4,329,075 shares of the company’s stock were exchanged, compared to its average volume of 1,785,332. The stock has a market cap of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.93. The firm’s 50 day simple moving average is $11.95 and its two-hundred day simple moving average is $12.60. 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 released 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. Equities research analysts predict that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TENX has been the topic of a number of research analyst reports. Canaccord Genuity Group set a $4.00 target price on Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. Roth Capital set a $5.00 price target on Tenax Therapeutics in a research report on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Guggenheim set a $4.00 target price on Tenax Therapeutics and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Piper Sandler boosted their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors have recently modified their holdings of TENX. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics during the third quarter worth $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics during the 4th quarter worth $130,000. Corient Private Wealth LLC acquired a new position in Tenax Therapeutics during the 4th quarter worth $151,000. Quadrature Capital Ltd purchased a new stake in Tenax Therapeutics during the 4th quarter worth about $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics in the 4th quarter valued at about $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

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.