Tenax Therapeutics (NASDAQ:TENX) CEO Christopher Thomas Giordano Buys 6,000 Shares

Key Points

• CEO Christopher Giordano purchased 6,000 Tenax Therapeutics shares at an average price of $1.88, investing $11,280 and increasing his direct holdings by 52.98% to 17,324 shares. He also bought an additional 4,850 shares at $1.82 several days later.
• Tenax shares traded at $1.83, near the lower end of their 52-week range of $1.31 to $19.40. The company reported a quarterly loss of $0.35 per share, narrowly beating analyst expectations.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $14.00; institutional ownership remains low at 1.67% despite several new or expanded positions.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) CEO Christopher Giordano bought 6,000 shares of the company's stock in a transaction on Friday, September 11th. The stock was bought at an average cost of $1.88 per share, for a total transaction of $11,280.00. Following the completion of the acquisition, the chief executive officer directly owned 17,324 shares of the company's stock, valued at approximately $32,569.12. This represents a 52.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Christopher Thomas Giordano also recently made the following trade(s):

• On Tuesday, September 15th, Christopher Giordano purchased 4,850 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.82 per share, with a total value of $8,827.00.

Tenax Therapeutics Stock Performance

Shares of TENX traded down $0.03 during trading hours on Tuesday, hitting $1.83. The company had a trading volume of 1,641,507 shares, compared to its average volume of 6,731,546. The firm has a fifty day moving average price of $8.02 and a 200-day moving average price of $11.33. The stock has a market capitalization of $68.48 million, a price-to-earnings ratio of -1.24 and a beta of 0.83. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. Research analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in Tenax Therapeutics in the 2nd quarter worth approximately $485,000. Braidwell LP bought a new position in shares of Tenax Therapeutics during the 2nd quarter valued at $8,503,000. Wellington Management Group LLP bought a new position in shares of Tenax Therapeutics during the 2nd quarter valued at $1,390,000. Bank of New York Mellon Corp purchased a new position in shares of Tenax Therapeutics in the 2nd quarter worth $4,733,000. Finally, Perceptive Advisors LLC boosted its stake in shares of Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company's stock worth $23,150,000 after buying an additional 1,008,640 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TENX has been the subject of several analyst reports. Weiss Ratings downgraded shares of Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Roth Capital set a $5.00 price objective on Tenax Therapeutics in a research report on Monday, August 10th. Piper Sandler increased their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. Finally, Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the stock a "buy" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Tenax Therapeutics presently has a consensus rating of "Hold" and an average price target of $14.00.

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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