Perceptive Advisors LLC Raises Stock Holdings in Tenax Therapeutics, Inc. $TENX

Key Points

• Perceptive Advisors increased its Tenax Therapeutics stake by 229.7% in the first quarter, ending with 1.45 million shares valued at $23.15 million, or about 5.46% of the company. Janus Henderson also expanded its position nearly tenfold.
• Tenax shares opened at $13.70, down 9.3%, with a 52-week range of $5.78 to $19.40. The company reported a quarterly loss of $0.35 per share, which was better than the $0.38 analyst estimate.
• Analyst sentiment is largely positive, with a consensus “Moderate Buy” rating and an average price target of $37.67, despite one “Sell” rating. Price targets from recent firms range from $27 to $40.

Perceptive Advisors LLC boosted its position in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX - Free Report) by 229.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,447,782 shares of the specialty pharmaceutical company's stock after acquiring an additional 1,008,640 shares during the quarter. Perceptive Advisors LLC owned about 5.46% of Tenax Therapeutics worth $23,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TENX. Janus Henderson Group PLC increased 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 purchasing an additional 1,648,808 shares during the period. Siren L.L.C. raised its stake in shares of Tenax Therapeutics by 21.2% in the fourth quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company's stock worth $5,207,000 after purchasing an additional 74,700 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company's stock worth $2,387,000 after purchasing an additional 79,998 shares during the period. Marshall Wace LLP lifted its holdings in shares of Tenax Therapeutics by 68.2% during the fourth quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company's stock worth $3,634,000 after purchasing an additional 120,944 shares during the period. Finally, Diadema Partners LP purchased a new stake in Tenax Therapeutics in the fourth quarter valued at approximately $2,964,000. Institutional investors and hedge funds own 1.67% of the company's stock.

Tenax Therapeutics Stock Down 9.3%

Shares of TENX opened at $13.70 on Friday. Tenax Therapeutics, Inc. has a 52 week low of $5.78 and a 52 week high of $19.40. The company has a market capitalization of $363.32 million, a price-to-earnings ratio of -9.26 and a beta of 0.92. The stock's 50-day moving average price is $13.63 and its 200-day moving average price is $13.59.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Evercore assumed coverage on shares of Tenax Therapeutics in a report on Wednesday, July 22nd. They issued an "outperform" rating and a $39.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. Canaccord Genuity Group assumed coverage on shares of Tenax Therapeutics in a research note on Tuesday, July 28th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Chardan Capital reissued a "buy" rating and set a $27.00 target price on shares of Tenax Therapeutics in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.67.

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.

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