Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases $322,304.40 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $1.80 per share, with a total value of $322,304.40. Following the completion of the transaction, the insider owned 5,436,447 shares of the company’s stock, valued at $9,785,604.60. This represents a 3.41% increase in their position. The acquisition 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 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 acquired 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 Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.77 per share, with a total value of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc purchased 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Trading Up 9.0%

Shares of Tenax Therapeutics stock opened at $1.94 on Friday. Tenax Therapeutics, Inc. has a 12-month low of $1.31 and a 12-month high of $19.40. The company has a market cap of $72.59 million, a price-to-earnings ratio of -1.31 and a beta of 0.83. The company’s 50-day moving average price is $9.86 and its 200-day moving average price is $11.84.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, sell-side analysts predict that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Institutional Trading of Tenax Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter worth $92,000. Citadel Advisors LLC increased its stake in Tenax Therapeutics by 318.1% in the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after acquiring an additional 32,908 shares during the last quarter. Millennium Management LLC raised its position in Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock valued at $2,387,000 after purchasing an additional 79,998 shares in the last quarter. Woodline Partners LP purchased a new stake in Tenax Therapeutics during the third quarter valued at about $671,000. Finally, Geode Capital Management LLC lifted its stake in Tenax Therapeutics by 61.8% during the fourth quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after purchasing an additional 21,274 shares during the last quarter. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

TENX has been the subject of a number of recent analyst reports. Leerink Partners set a $4.00 price target on shares of Tenax Therapeutics in a research report on Tuesday, August 11th. Piper Sandler boosted their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research note on Tuesday, August 11th. UBS Group cut Tenax Therapeutics to a “neutral” rating in a report on Monday. Finally, Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.