Adar1 Capital Management, Llc Buys 716,369 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Key Points

• Adar1 Capital Management acquired 716,369 Tenax Therapeutics shares at an average of $1.77, investing approximately $1.27 million and increasing its ownership to 4.75 million shares. The investor also made additional purchases on August 20 and 24.
• Tenax shares rose to $1.85, while the company reported a quarterly loss of $0.35 per share—slightly better than analysts’ $0.38 estimate. Analysts expect a full-year loss of $1.41 per share.
• Analyst views are mixed, but the stock carries a consensus “Moderate Buy” rating with a $14 average price target, substantially above its recent trading price.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 716,369 shares of the firm's stock in a transaction on Friday, August 21st. The shares were bought at an average cost of $1.77 per share, for a total transaction of $1,267,973.13. Following the completion of the acquisition, the insider owned 4,746,444 shares of the company's stock, valued at approximately $8,401,205.88. This represents a 17.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, for a total transaction of $187,904.50.
• On Thursday, August 20th, Adar1 Capital Management, Llc purchased 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Price Performance

TENX stock traded up $0.10 during trading on Monday, hitting $1.85. The stock had a trading volume of 4,329,075 shares, compared to its average volume of 1,785,332. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40. The stock has a market capitalization of $69.23 million, a P/E ratio of -1.25 and a beta of 0.93. The company's 50-day moving average price is $11.95 and its two-hundred day moving average price is $12.60.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts expect that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Leerink Partners set a $4.00 price target on shares of Tenax Therapeutics in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Finally, Canaccord Genuity Group set a $4.00 price objective on shares of Tenax Therapeutics and gave the company a "buy" rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics in the third quarter valued at about $92,000. Citadel Advisors LLC boosted its holdings in Tenax Therapeutics by 318.1% in the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company's stock valued at $329,000 after purchasing an additional 32,908 shares during the last quarter. Millennium Management LLC grew its stake in shares of Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company's stock valued at $2,387,000 after buying an additional 79,998 shares during the period. Woodline Partners LP purchased a new stake in shares of Tenax Therapeutics in the 3rd quarter valued at approximately $671,000. Finally, Geode Capital Management LLC increased its holdings in shares of Tenax Therapeutics by 61.8% during the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company's stock worth $679,000 after buying an additional 21,274 shares during the last quarter. Institutional investors and hedge funds own 1.67% of the company's stock.

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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