Adar1 Capital Management, Llc Purchases 900,000 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 900,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the acquisition, the insider directly owned 6,524,151 shares in the company, valued at $11,612,988.78. This trade represents a 16.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% 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 purchased 187,704 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.80 per share, with a total value of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.80 per share, for a total transaction of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The stock was acquired at an average cost 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 acquired at an average price 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 acquired at an average cost of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Stock Up 2.1%

NASDAQ TENX traded up $0.04 during trading hours on Tuesday, reaching $1.98. The company’s stock had a trading volume of 7,583,370 shares, compared to its average volume of 2,139,599. The firm’s 50-day moving average price is $9.63 and its 200-day moving average price is $11.76. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The company has a market capitalization of $74.09 million, a price-to-earnings ratio of -1.34 and a beta of 0.83.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Equities research analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after purchasing an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC raised its stake 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 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 second quarter valued at $8,503,000. Bank of New York Mellon Corp bought a new position in Tenax Therapeutics during the second quarter valued at $4,733,000. Finally, Diadema Partners LP purchased a new position in shares of Tenax Therapeutics in the 4th quarter worth $2,964,000. 1.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TENX shares. Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a research note on Tuesday, August 11th. Evercore cut shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a research note on Tuesday, August 11th. Chardan Capital downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Tuesday, August 11th. UBS Group lowered Tenax Therapeutics to a “neutral” rating in a research report on Monday, August 31st. Finally, Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tenax Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $14.00.

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.