ADAR1 Capital Management LLC Raises Stock Holdings in Tenax Therapeutics, Inc. $TENX

Key Points

• ADAR1 Capital Management increased its Tenax Therapeutics stake by 235.2% in the first quarter, acquiring 149,789 additional shares for a total of 213,462 shares, or about 1.24% of the company.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $37.67 average price target, although Weiss Ratings maintained a sell rating.
• TENX opened at $15.80, with a market capitalization of approximately $419.1 million. The company recently reported a quarterly loss of $0.35 per share, beating estimates for a $0.40 loss.

ADAR1 Capital Management LLC increased its holdings in Tenax Therapeutics, Inc. (NASDAQ:TENX - Free Report) by 235.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,462 shares of the specialty pharmaceutical company's stock after acquiring an additional 149,789 shares during the quarter. ADAR1 Capital Management LLC owned about 1.24% of Tenax Therapeutics worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. purchased a new position in Tenax Therapeutics in the fourth quarter worth about $130,000. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics during the third quarter valued at approximately $92,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics during the fourth quarter valued at approximately $151,000. Quadrature Capital Ltd purchased a new stake in Tenax Therapeutics in the fourth quarter worth approximately $252,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Tenax Therapeutics in the fourth quarter worth approximately $273,000. Hedge funds and other institutional investors own 1.67% of the company's stock.

Wall Street Analyst Weigh In

TENX has been the subject of a number of research analyst reports. Evercore initiated coverage on shares of Tenax Therapeutics in a research report on Wednesday, July 22nd. They issued an "outperform" rating and a $39.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, June 24th. Canaccord Genuity Group began coverage on Tenax Therapeutics in a research report on Tuesday. They set a "buy" rating and a $35.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. Finally, Guggenheim reissued a "buy" rating and issued a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Tenax Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.67.

Tenax Therapeutics Price Performance

NASDAQ:TENX opened at $15.80 on Wednesday. The firm has a market capitalization of $419.10 million, a price-to-earnings ratio of -11.29 and a beta of 0.92. Tenax Therapeutics, Inc. has a one year low of $5.78 and a one year high of $19.40. The business has a fifty day moving average price of $13.48 and a 200-day moving average price of $13.56.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. On average, equities research analysts expect that Tenax Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal 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.

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