Insider Buying: Tenax Therapeutics (NASDAQ:TENX) CEO Buys $11,280.00 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) CEO Christopher Giordano acquired 6,000 shares of the stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $1.88 per share, for a total transaction of $11,280.00. Following the purchase, the chief executive officer directly owned 17,324 shares in the company, valued at approximately $32,569.12. This trade represents a 52.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Christopher Thomas Giordano also recently made the following trade(s):

• On Tuesday, September 15th, Christopher Giordano acquired 4,850 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.82 per share, for a total transaction of $8,827.00.

Tenax Therapeutics Trading Up 2.2%

Shares of NASDAQ TENX opened at $1.86 on Friday. Tenax Therapeutics, Inc. has a 12-month low of $1.31 and a 12-month high of $19.40. The firm has a market capitalization of $69.60 million, a price-to-earnings ratio of -1.26 and a beta of 0.83. The firm has a 50 day moving average of $7.37 and a 200 day moving average of $11.19.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. Sell-side analysts predict that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Trading of Tenax Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Tenax Therapeutics during the 2nd quarter valued at $485,000. Braidwell LP bought a new stake in Tenax Therapeutics during the second quarter valued at about $8,503,000. Wellington Management Group LLP bought a new stake in Tenax Therapeutics during the second quarter valued at about $1,390,000. Bank of New York Mellon Corp bought a new stake in Tenax Therapeutics during the second quarter valued at about $4,733,000. Finally, Perceptive Advisors LLC lifted its position 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 acquiring an additional 1,008,640 shares in the last quarter. 1.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TENX has been the topic of a number of recent research reports. Weiss Ratings cut Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target for the company. in a research report on Tuesday, August 11th. Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a research note on Tuesday, August 11th. Finally, Piper Sandler raised their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company’s primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.