Adar1 Capital Management, Llc Acquires 403,571 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 403,571 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average cost of $1.79 per share, with a total value of $722,392.09. Following the acquisition, the insider owned 5,257,389 shares of the company’s stock, valued at approximately $9,410,726.31. The trade was a 8.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares 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 bought 187,704 shares of Tenax Therapeutics stock. The shares were purchased 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 purchased 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 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The shares were purchased 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 purchased 716,369 shares of Tenax Therapeutics stock. The shares were purchased 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 acquired 202,124 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Stock Performance

Shares of Tenax Therapeutics stock opened at $1.78 on Friday. The stock has a 50 day moving average of $10.09 and a 200 day moving average of $11.91. The firm has a market capitalization of $66.61 million, a price-to-earnings ratio of -1.20 and a beta of 0.83. 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 posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Analysts forecast that Tenax Therapeutics, Inc. will post -1.41 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TENX. Roth Capital set a $5.00 target price on shares of Tenax Therapeutics in a research note on Monday, August 10th. Canaccord Genuity Group set a $4.00 price objective on shares of Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Finally, 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 report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned 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 target price of $14.00.

Institutional Trading of Tenax Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in shares of Tenax Therapeutics by 989.3% during the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after purchasing an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC grew its holdings 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 purchasing an additional 1,008,640 shares in the last quarter. Braidwell LP purchased a new stake in Tenax Therapeutics during the 2nd quarter worth approximately $8,503,000. Siren L.L.C. lifted its holdings in Tenax Therapeutics by 21.2% during the 4th quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock worth $5,207,000 after buying an additional 74,700 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Tenax Therapeutics during the 2nd quarter worth approximately $4,733,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

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.