Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Buys 202,124 Shares of Stock

Key Points

• Adar1 Capital Management increased its Tenax Therapeutics stake by purchasing 202,124 shares at an average $1.78 each, bringing its holdings to 4,030,075 shares valued at approximately $7.17 million. The firm also made two additional purchases totaling 823,743 shares in the surrounding days.
• Tenax shares traded at $1.85, with a market capitalization of roughly $69.2 million and a 52-week range of $1.31 to $19.40. The company reported a quarterly loss of $0.35 per share, slightly better than analysts’ expected $0.38 loss.
• Analyst sentiment remains mixed, with recent downgrades from several firms, though MarketBeat lists a consensus “Moderate Buy” rating and an average price target of $14.00.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc bought 202,124 shares of the company's stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $1.78 per share, with a total value of $359,780.72. Following the completion of the transaction, the insider owned 4,030,075 shares of the company's stock, valued at $7,173,533.50. The trade was a 5.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's shares 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 purchased 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.75 per share, for a total transaction of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.77 per share, for a total transaction of $1,267,973.13.

Tenax Therapeutics Price Performance

NASDAQ TENX traded up $0.10 during trading hours on Monday, reaching $1.85. 4,329,075 shares of the stock traded hands, compared to its average volume of 1,785,332. The stock has a 50 day simple moving average of $11.95 and a two-hundred day simple moving average of $12.60. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The company has a market cap of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

TENX has been the topic of several research reports. Evercore downgraded shares of Tenax Therapeutics from an "outperform" rating to an "in-line" rating and set a $5.00 price target on the stock. in a research note on Tuesday, August 11th. Chardan Capital lowered shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 target price on the stock. in a report on Tuesday, August 11th. William Blair cut shares of Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, August 10th. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Tenax Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Institutional Trading of Tenax Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics during the third quarter valued at approximately $92,000. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics during the 4th quarter valued at $130,000. Corient Private Wealth LLC purchased a new stake in Tenax Therapeutics during the 4th quarter valued at $151,000. Quadrature Capital Ltd bought a new position in shares of Tenax Therapeutics during the fourth quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Tenax Therapeutics during the fourth quarter worth about $273,000. Institutional investors 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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