Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Acquires 336,528 Shares of Company Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 336,528 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were acquired at an average cost of $1.51 per share, with a total value of $508,157.28. Following the purchase, the insider owned 6,860,679 shares in the company, valued at $10,359,625.29. This represents a 5.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 Wednesday, October 21st, Adar1 Capital Management, Llc acquired 331,979 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.66 per share, with a total value of $551,085.14.
• On Tuesday, October 20th, Adar1 Capital Management, Llc bought 254,342 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $406,947.20.
• On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.78 per share, for a total transaction of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc bought 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc bought 179,058 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc purchased 403,571 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.79 per share, with a total value of $722,392.09.
• 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, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The stock was bought 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 purchased 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Performance

NASDAQ:TENX opened at $1.63 on Thursday. Tenax Therapeutics, Inc. has a one year low of $1.31 and a one year high of $19.40. The stock has a market cap of $61.00 million, a PE ratio of -1.10 and a beta of 0.92. The stock has a 50 day moving average price of $1.85 and a 200 day moving average price of $9.15.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake 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 during the last quarter. Perceptive Advisors LLC raised its position in 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 purchasing an additional 1,008,640 shares during the period. Braidwell LP purchased a new stake in Tenax Therapeutics in the second quarter valued at $8,503,000. Bank of New York Mellon Corp acquired a new position in shares of Tenax Therapeutics in the 2nd quarter valued at $4,733,000. Finally, Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics in the 1st quarter valued at $3,453,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings lowered Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Wall Street Zen lowered shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. UBS Group cut shares of Tenax Therapeutics to a “neutral” rating in a research report on Monday, August 31st. William Blair cut shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Finally, Chardan Capital downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.00.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company’s research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax’s primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.