Tenax Therapeutics, Inc. $TENX Shares Bought by Perceptive Advisors LLC

Perceptive Advisors LLC boosted its holdings in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) by 229.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,447,782 shares of the specialty pharmaceutical company’s stock after purchasing an additional 1,008,640 shares during the period. Perceptive Advisors LLC owned approximately 0.05% of Tenax Therapeutics worth $23,150,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Letko Brosseau & Associates Inc. purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at approximately $130,000. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics during the 3rd quarter valued at approximately $92,000. Corient Private Wealth LLC purchased a new position in shares of Tenax Therapeutics during the 4th quarter valued at approximately $151,000. Bank of America Corp DE grew its stake in Tenax Therapeutics by 391.2% in the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after acquiring an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Tenax Therapeutics in the 4th quarter valued at $252,000. 1.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a report on Wednesday. Chardan Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Tenax Therapeutics in a research report on Friday. Piper Sandler boosted their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Evercore began coverage on shares of Tenax Therapeutics in a research note on Wednesday, July 22nd. They set an “outperform” rating and a $39.00 target price for the company. Finally, Guggenheim restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Tenax Therapeutics Price Performance

Shares of NASDAQ:TENX opened at $13.70 on Friday. The business’s 50 day moving average price is $13.63 and its 200-day moving average price is $13.59. The firm has a market capitalization of $363.32 million, a PE ratio of -9.26 and a beta of 0.92. Tenax Therapeutics, Inc. has a 1 year low of $5.78 and a 1 year high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. As a group, analysts expect that Tenax Therapeutics, Inc. will post -1.48 earnings per share for the current year.

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.