Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases $337,867.20 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 187,704 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $1.80 per share, with a total value of $337,867.20. Following the completion of the purchase, the insider owned 5,624,151 shares in the company, valued at $10,123,471.80. This trade represents a 3.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major 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 Tuesday, September 1st, Adar1 Capital Management, Llc bought 179,058 shares of Tenax Therapeutics stock. The shares were purchased 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 purchased 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 acquired 107,374 shares of Tenax Therapeutics stock. The stock was purchased 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 acquired 716,369 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Stock Performance

Shares of Tenax Therapeutics stock opened at $1.94 on Friday. Tenax Therapeutics, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $19.40. The company has a market capitalization of $72.59 million, a P/E ratio of -1.31 and a beta of 0.83. The company has a fifty day moving average of $9.86 and a 200 day moving average of $11.84.

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

Analyst Ratings Changes

Several research firms have weighed in on TENX. UBS Group downgraded Tenax Therapeutics to a “neutral” rating in a research note on Monday. Canaccord Genuity Group set a $4.00 target price on shares of Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Roth Capital set a $5.00 price target on shares of Tenax Therapeutics in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of Tenax Therapeutics by 989.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after buying an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after purchasing an additional 1,008,640 shares during the period. Braidwell LP bought a new position in shares of Tenax Therapeutics during the 2nd quarter valued at approximately $8,503,000. Bank of New York Mellon Corp purchased a new stake in Tenax Therapeutics during the 2nd quarter valued at $4,733,000. Finally, Diadema Partners LP purchased a new stake in Tenax Therapeutics during the 4th quarter valued at $2,964,000. 1.67% of the stock is currently owned by institutional investors.

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.