Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases 179,058 Shares of Stock

Key Points

• Adar1 Capital Management purchased 179,058 Tenax Therapeutics shares at an average price of $1.80, increasing its ownership by 3.41% to 5.44 million shares. The shareholder also made several other purchases in August and September.
• Tenax shares rose $0.05 to $1.85, while the company reported a quarterly loss of $0.35 per share, beating the consensus estimate of a $0.38 loss. The stock has traded between $1.31 and $19.40 over the past year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and a $14 average price target; several firms recently downgraded the stock to neutral or in-line ratings.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average price of $1.80 per share, for a total transaction of $322,304.40. Following the transaction, the insider directly owned 5,436,447 shares of the company's stock, valued at $9,785,604.60. This trade represents a 3.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.80 per share, with a total value of $337,867.20.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The shares were purchased 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 shares were purchased at an average price of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Performance

Shares of TENX traded up $0.05 on Wednesday, reaching $1.85. The stock had a trading volume of 2,770,370 shares, compared to its average volume of 2,016,301. Tenax Therapeutics, Inc. has a 12-month low of $1.31 and a 12-month high of $19.40. The firm has a market capitalization of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.83. The company has a 50-day simple moving average of $10.54 and a 200-day simple moving average of $12.07.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, analysts expect that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors have recently modified their holdings of TENX. Janus Henderson Group PLC grew its stake 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 worth $29,066,000 after acquiring an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC raised its position 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 purchasing an additional 1,008,640 shares during the last quarter. Braidwell LP bought a new position in Tenax Therapeutics in the 2nd quarter worth about $8,503,000. Bank of New York Mellon Corp bought a new position in Tenax Therapeutics in the 2nd quarter worth about $4,733,000. Finally, Diadema Partners LP purchased a new stake in Tenax Therapeutics during the 4th quarter valued at about $2,964,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Evercore lowered shares of Tenax Therapeutics from an "outperform" rating to an "in-line" rating and set a $5.00 price target for the company. in a research note on Tuesday, August 11th. UBS Group lowered shares of Tenax Therapeutics to a "neutral" rating in a research note on Monday. Canaccord Genuity Group set a $4.00 price objective on shares of Tenax Therapeutics and gave the stock a "buy" rating in a report on Tuesday, August 11th. Guggenheim downgraded shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday. Finally, Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tenax Therapeutics currently has a consensus rating of "Hold" and a consensus target price 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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