Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Buys $359,780.72 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 202,124 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $1.78 per share, with a total value of $359,780.72. Following the completion of the acquisition, the insider owned 4,030,075 shares of the company’s stock, valued at approximately $7,173,533.50. This trade represents a 5.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.75 per share, for a total transaction of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.77 per share, with a total value of $1,267,973.13.

Tenax Therapeutics Stock Performance

Tenax Therapeutics stock opened at $2.12 on Thursday. The company has a 50 day moving average price of $11.38 and a 200 day moving average price of $12.37. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40. The firm has a market capitalization of $79.33 million, a price-to-earnings ratio of -1.43 and a beta of 0.93.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.03. Equities analysts forecast that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. William Blair downgraded Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Guggenheim set a $4.00 target price on Tenax Therapeutics and gave the company a “buy” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, July 29th. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler raised their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tenax Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Institutional Trading of Tenax Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Tenax Therapeutics in the 3rd quarter worth about $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 acquired a new position in Tenax Therapeutics in the fourth quarter worth approximately $151,000. Quadrature Capital Ltd bought a new position in Tenax Therapeutics during the fourth quarter valued at approximately $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics in the fourth quarter valued at approximately $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

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.