Tenax Therapeutics (NASDAQ:TENX) Stock: Insider Adar1 Capital Management, Llc Acquires 336,528 Shares

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 336,528 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was acquired at an average price of $1.51 per share, with a total value of $508,157.28. Following the purchase, the insider directly owned 6,860,679 shares of the company’s stock, valued at approximately $10,359,625.29. The trade was a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 shares were acquired at an average cost of $1.66 per share, for a total transaction of $551,085.14.
• On Tuesday, October 20th, Adar1 Capital Management, Llc bought 254,342 shares of Tenax Therapeutics stock. The shares were bought at an average price 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 shares were bought at an average price of $1.78 per share, for a total transaction of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The shares were bought 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 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 acquired 107,374 shares of Tenax Therapeutics stock. The shares were bought 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 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 acquired 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock remained flat at $1.63 during midday trading on Wednesday. 1,889,406 shares of the company were exchanged, compared to its average volume of 2,241,564. Tenax Therapeutics, Inc. has a 12 month low of $1.31 and a 12 month high of $19.40. The company’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $9.25. The stock has a market cap of $60.99 million, a price-to-earnings ratio of -1.10 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a research report on Tuesday, August 11th. UBS Group downgraded Tenax Therapeutics to a “neutral” rating in a report on Monday, August 31st. Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research report on Tuesday, August 11th. Finally, Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research 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 issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tenax Therapeutics has a consensus rating of “Hold” and a consensus target price of $14.00.

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TENX. State of Alaska Department of Revenue bought a new position in Tenax Therapeutics in the 3rd quarter worth $94,000. Squarepoint Ops LLC purchased a new position in Tenax Therapeutics during the second quarter valued at $485,000. Braidwell LP purchased a new position in Tenax Therapeutics during the second quarter valued at $8,503,000. Wellington Management Group LLP bought a new stake in Tenax Therapeutics during the second quarter valued at about $1,390,000. Finally, Bank of New York Mellon Corp purchased a new stake in Tenax Therapeutics in the second quarter worth about $4,733,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

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.