Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases 107,374 Shares of Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 107,374 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $187,904.50. Following the transaction, the insider owned 4,853,818 shares of the company’s stock, valued at $8,494,181.50. This trade represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The shares were acquired 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 bought 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 Price Performance

Shares of Tenax Therapeutics stock traded up $0.10 on Monday, hitting $1.85. The company had a trading volume of 4,329,075 shares, compared to its average volume of 1,785,332. The firm has a market capitalization of $69.23 million, a P/E ratio of -1.25 and a beta of 0.93. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40. The stock has a 50-day moving average of $11.95 and a 200-day moving average of $12.60.

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, topping analysts’ consensus estimates of ($0.38) by $0.03. Equities analysts predict that Tenax Therapeutics, Inc. will post -1.41 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Several large investors have recently made changes to their positions in TENX. Janus Henderson Group PLC raised its position in 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 acquiring an additional 1,648,808 shares in the last quarter. ADAR1 Capital Management LLC grew its position in shares of Tenax Therapeutics by 235.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company’s stock valued at $3,413,000 after acquiring an additional 149,789 shares during the period. Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics during the 1st quarter worth about $3,453,000. Stempoint Capital LP bought a new stake in shares of Tenax Therapeutics in the 1st quarter valued at about $3,017,000. Finally, Perceptive Advisors LLC grew its holdings in Tenax Therapeutics by 229.7% during the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after purchasing an additional 1,008,640 shares during the period. Institutional investors and hedge funds own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Chardan Capital cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Tuesday, August 11th. Finally, Guggenheim set a $4.00 target price on shares of Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tenax Therapeutics currently has an average 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.