Adar1 Capital Management, Llc Acquires 716,369 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock in a transaction on Friday, August 21st. The stock was bought at an average price of $1.77 per share, for a total transaction of $1,267,973.13. Following the completion of the acquisition, the insider owned 4,746,444 shares in the company, valued at $8,401,205.88. The trade was a 17.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 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 Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, for a total transaction of $187,904.50.
• On Thursday, August 20th, Adar1 Capital Management, Llc acquired 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Up 25.4%

TENX opened at $2.32 on Wednesday. The company has a market capitalization of $86.81 million, a PE ratio of -1.57 and a beta of 0.93. The firm has a 50-day simple moving average of $11.57 and a two-hundred day simple moving average of $12.45. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TENX shares. Weiss Ratings downgraded Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Evercore downgraded Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price for the company. in a research report on Tuesday, August 11th. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a research report on Tuesday, August 11th. Chardan Capital lowered 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, Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, July 29th. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TENX. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the third quarter worth approximately $92,000. Letko Brosseau & Associates Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $130,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $151,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $252,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Tenax Therapeutics in the 4th quarter worth approximately $273,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

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.