Avidity Partners Management LP Invests $3.45 Million in Tenax Therapeutics, Inc. $TENX

Key Points

• Avidity Partners Management LP acquired 215,934 shares of Tenax Therapeutics valued at approximately $3.45 million, representing 0.81% of the company. Institutional investors collectively own 1.67% of TENX.
• Tenax Therapeutics shares were trading at $13.70, down 9.3%, while the company reported a quarterly loss of $0.35 per share—better than the $0.38 analyst estimate.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $37.67, although one analyst maintains a sell rating.

Avidity Partners Management LP acquired a new stake in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 215,934 shares of the specialty pharmaceutical company's stock, valued at approximately $3,453,000. Tenax Therapeutics accounts for about 0.7% of Avidity Partners Management LP's holdings, making the stock its 19th largest holding. Avidity Partners Management LP owned 0.81% of Tenax Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics in the 4th quarter valued at $130,000. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics during the third quarter worth $92,000. Corient Private Wealth LLC acquired a new stake in shares of Tenax Therapeutics during the fourth quarter worth $151,000. Bank of America Corp DE grew its position in shares of Tenax Therapeutics by 391.2% in the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company's stock valued at $297,000 after purchasing an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at $252,000. Institutional investors and hedge funds own 1.67% of the company's stock.

Tenax Therapeutics Trading Down 9.3%

TENX stock opened at $13.70 on Friday. The stock's 50 day simple moving average is $13.63 and its 200 day simple moving average is $13.59. Tenax Therapeutics, Inc. has a 12-month low of $5.78 and a 12-month high of $19.40. The firm has a market cap of $363.39 million, a P/E ratio of -9.79 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its quarterly earnings data 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. On average, research analysts forecast that Tenax Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Tenax Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.