Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases $508,157.28 in Stock

Key Points

• Adar1 Capital Management purchased 336,528 Tenax Therapeutics shares for $508,157.28, increasing its stake by 5.16% to 6.86 million shares. The investment firm has made several additional purchases in recent months.
• TENX remained flat at $1.63, with a market capitalization of approximately $60.99 million. The stock has traded between $1.31 and $19.40 over the past year and is reporting negative earnings.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating despite price targets from $4 to $5 among some analysts; the consensus price target is listed at $14.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 336,528 shares of the firm's stock in a transaction on Monday, October 19th. The stock was purchased at an average price of $1.51 per share, for a total transaction of $508,157.28. Following the transaction, the insider directly owned 6,860,679 shares of the company's stock, valued at approximately $10,359,625.29. This trade represents a 5.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, October 21st, Adar1 Capital Management, Llc purchased 331,979 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.66 per share, with a total value of $551,085.14.
• On Tuesday, October 20th, Adar1 Capital Management, Llc acquired 254,342 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.60 per share, for a total transaction of $406,947.20.
• On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.78 per share, for a total transaction of $1,602,000.00.
• On Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.80 per share, with a total value of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.80 per share, for a total transaction of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The shares were bought 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 bought 107,374 shares of Tenax Therapeutics stock. The shares were 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 purchased 716,369 shares of Tenax Therapeutics stock. The shares were bought 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 acquired 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Price Performance

TENX remained flat at $1.63 on Wednesday. 1,889,406 shares of the company's stock traded hands, compared to its average volume of 2,241,564. The business has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $9.25. The firm has a market cap of $60.99 million, a price-to-earnings ratio of -1.10 and a beta of 0.92. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40.

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

Institutional Trading of Tenax Therapeutics

Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Tenax Therapeutics during the 3rd quarter valued at about $94,000. Bank of America Corp DE lifted its stake in shares of Tenax Therapeutics by 391.2% in the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company's stock worth $297,000 after buying an additional 14,789 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Tenax Therapeutics in the second quarter worth approximately $485,000. The Manufacturers Life Insurance Company bought a new position in shares of Tenax Therapeutics in the first quarter worth approximately $501,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Tenax Therapeutics during the first quarter valued at approximately $1,001,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Capital set a $5.00 price target on shares of Tenax Therapeutics in a research report on Monday, August 10th. Wall Street Zen cut shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, September 14th. William Blair downgraded Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.

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