Braidwell LP Acquires New Holdings in Tenax Therapeutics, Inc. $TENX

Key Points

• Braidwell LP acquired 584,412 shares of Tenax Therapeutics in the second quarter, worth approximately $8.5 million and representing a 1.56% stake. Other institutional investors, including Janus Henderson and Perceptive Advisors, also increased their holdings.
• Insider buying continued, with Adar1 Capital Management purchasing 716,369 shares at an average price of $1.77. Corporate insiders now own 10.81% of Tenax’s stock.
• Analyst sentiment weakened, with several firms downgrading the stock to “Hold,” “Neutral,” or “In-Line.” Tenax has an average rating of “Hold” and a consensus price target of $14, while the stock recently traded at $1.85.

Braidwell LP bought a new stake in Tenax Therapeutics, Inc. (NASDAQ:TENX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 584,412 shares of the specialty pharmaceutical company's stock, valued at approximately $8,503,000. Braidwell LP owned approximately 1.56% of Tenax Therapeutics as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company's stock valued at $29,066,000 after acquiring an additional 1,648,808 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in Tenax Therapeutics by 235.2% in the first quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company's stock worth $3,413,000 after purchasing an additional 149,789 shares during the period. Avidity Partners Management LP bought a new position in Tenax Therapeutics during the 1st quarter valued at $3,453,000. Perceptive Advisors LLC boosted its stake in Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company's stock valued at $23,150,000 after purchasing an additional 1,008,640 shares in the last quarter. Finally, Stempoint Capital LP acquired a new position in shares of Tenax Therapeutics during the 1st quarter valued at $3,017,000. Institutional investors and hedge funds own 1.67% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Adar1 Capital Management, Llc acquired 716,369 shares of the company's stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $1.77 per share, for a total transaction of $1,267,973.13. Following the purchase, the insider owned 4,746,444 shares in the company, valued at $8,401,205.88. This represents a 17.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 1,796,200 shares of company stock valued at $3,198,222. 10.81% of the stock is currently owned by corporate insiders.

Tenax Therapeutics Price Performance

NASDAQ:TENX opened at $1.85 on Thursday. The stock has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. Tenax Therapeutics, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $19.40. The stock's 50-day moving average is $10.32 and its two-hundred day moving average is $11.99.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.03. On average, equities research analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

TENX has been the subject of several research analyst reports. William Blair lowered Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, August 10th. Evercore downgraded shares of Tenax Therapeutics from an "outperform" rating to an "in-line" rating and set a $5.00 price target for the company. in a report on Tuesday, August 11th. Chardan Capital cut shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 11th. 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. Finally, Guggenheim downgraded shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tenax Therapeutics has an average rating of "Hold" and an average target price of $14.00.

About Tenax Therapeutics

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.