Tenax Therapeutics (NASDAQ:TENX) Insider Stuart Rich Buys 1,500 Shares

Tenax Therapeutics, Inc. (NASDAQ:TENX) insider Stuart Rich purchased 1,500 shares of Tenax Therapeutics stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $9.08 per share, with a total value of $13,620.00. Following the transaction, the insider directly owned 2,766 shares of the company’s stock, valued at approximately $25,115.28. The trade was a 118.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Stuart Rich also recently made the following trade(s):

• On Thursday, December 4th, Stuart Rich acquired 2,500 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $9.20 per share, for a total transaction of $23,000.00.
• On Tuesday, December 2nd, Stuart Rich acquired 1,000 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $9.01 per share, for a total transaction of $9,010.00.

Tenax Therapeutics Price Performance

TENX traded up $0.30 on Friday, hitting $9.65. The company had a trading volume of 168,431 shares, compared to its average volume of 50,192. The stock has a market cap of $60.25 million, a price-to-earnings ratio of -8.54 and a beta of 1.55. The company’s fifty day moving average price is $7.66 and its 200 day moving average price is $6.58. Tenax Therapeutics, Inc. has a 1-year low of $4.63 and a 1-year high of $9.91.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.93. On average, sell-side analysts forecast that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TENX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenax Therapeutics in a report on Monday. Wall Street Zen upgraded Tenax Therapeutics to a “sell” rating in a research note on Saturday, October 25th. Piper Sandler initiated coverage on Tenax Therapeutics in a research note on Monday, September 8th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Guggenheim lowered their target price on Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Tenax Therapeutics during the third quarter valued at about $92,000. Citadel Advisors LLC lifted its position in shares of Tenax Therapeutics by 318.1% in the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares during the period. ADAR1 Capital Management LLC grew its holdings in shares of Tenax Therapeutics by 98.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after purchasing an additional 34,048 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Tenax Therapeutics during the third quarter valued at approximately $671,000. Finally, Millennium Management LLC increased its position in shares of 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 during the period. 1.67% of the stock is owned by institutional investors and hedge funds.

About Tenax Therapeutics

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.