Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Acquires 254,342 Shares of Stock

Key Points

• Adar1 Capital Management acquired 254,342 Tenax Therapeutics shares at $1.60 each, increasing its stake by 3.71% to 7.12 million shares valued at approximately $11.4 million.
• Tenax shares were flat at $1.63, with a market capitalization of about $61 million; the stock has traded between $1.31 and $19.40 over the past year.
• Analyst sentiment is mixed but leans toward a “Hold” consensus, while Tenax reported a quarterly loss of $0.35 per share—better than the expected $0.38 loss.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 254,342 shares of Tenax Therapeutics stock in a transaction dated Tuesday, October 20th. The shares were acquired at an average price of $1.60 per share, with a total value of $406,947.20. Following the completion of the purchase, the insider owned 7,115,021 shares in the company, valued at approximately $11,384,033.60. The trade was a 3.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, October 21st, Adar1 Capital Management, Llc acquired 331,979 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.66 per share, with a total value of $551,085.14.
• On Monday, October 19th, Adar1 Capital Management, Llc bought 336,528 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.51 per share, for a total transaction of $508,157.28.
• On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc bought 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc purchased 403,571 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.79 per share, with a total value of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc acquired 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Price Performance

Shares of Tenax Therapeutics stock remained flat at $1.63 on Wednesday. The stock had a trading volume of 1,889,406 shares, compared to its average volume of 2,241,564. The firm has a market cap of $60.99 million, a P/E ratio of -1.10 and a beta of 0.92. Tenax Therapeutics, Inc. has a one year low of $1.31 and a one year high of $19.40. The firm's 50 day moving average is $1.85 and its 200-day moving average is $9.25.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its 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. Analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Braidwell LP bought a new position in shares of Tenax Therapeutics in the second quarter valued at about $8,503,000. Janus Henderson Group PLC boosted its holdings in shares of Tenax Therapeutics by 989.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company's stock worth $29,066,000 after buying an additional 1,648,808 shares during the period. ADAR1 Capital Management LLC boosted its holdings in shares of Tenax Therapeutics by 235.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company's stock worth $3,413,000 after buying an additional 149,789 shares during the period. Avidity Partners Management LP bought a new stake in shares of Tenax Therapeutics during the 1st quarter worth about $3,453,000. Finally, Perceptive Advisors LLC grew its stake in 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 valued at $23,150,000 after buying an additional 1,008,640 shares during the last quarter. Institutional investors and hedge funds own 1.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TENX. Guggenheim downgraded shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, August 31st. Wall Street Zen cut shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Evercore downgraded shares of Tenax Therapeutics from an "outperform" rating to an "in-line" rating and set a $5.00 target price for the company. in a research note on Tuesday, August 11th. William Blair downgraded shares of Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Finally, Roth Capital set a $5.00 price target on Tenax Therapeutics in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.00.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company's research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax's primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.

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.