Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Purchases 202,124 Shares

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 202,124 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $1.78 per share, with a total value of $359,780.72. Following the transaction, the insider owned 4,030,075 shares in the company, valued at $7,173,533.50. This represents a 5.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Monday, August 24th, Adar1 Capital Management, Llc bought 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 bought 716,369 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.77 per share, with a total value of $1,267,973.13.

Tenax Therapeutics Price Performance

Shares of Tenax Therapeutics stock opened at $1.85 on Tuesday. The company has a market capitalization of $69.23 million, a P/E ratio of -1.25 and a beta of 0.93. The business has a 50-day moving average of $11.75 and a two-hundred day moving average of $12.52. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings data 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. On average, equities analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Braidwell LP bought a new stake in Tenax Therapeutics during the 2nd quarter worth about $8,503,000. Wellington Management Group LLP bought a new position in shares of Tenax Therapeutics in the 2nd quarter valued at about $1,390,000. Bank of New York Mellon Corp bought a new position in shares of Tenax Therapeutics in the 2nd quarter valued at about $4,733,000. Perceptive Advisors LLC increased its position in shares of 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 valued at $23,150,000 after acquiring an additional 1,008,640 shares during the last quarter. Finally, Avidity Partners Management LP acquired a new stake in shares of Tenax Therapeutics in the first quarter valued at about $3,453,000. Institutional investors own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TENX. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research report on Wednesday, July 29th. William Blair lowered shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Guggenheim set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” 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.