Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Buys $337,867.20 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average cost of $1.80 per share, for a total transaction of $337,867.20. Following the completion of the transaction, the insider directly owned 5,624,151 shares in the company, valued at $10,123,471.80. This represents a 3.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, September 1st, Adar1 Capital Management, Llc bought 179,058 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The shares were acquired at an average price 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 stock was bought at an average cost of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc acquired 716,369 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.77 per share, with a total value of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 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 Stock Performance

Shares of Tenax Therapeutics stock traded up $0.05 during trading on Wednesday, hitting $1.85. 2,770,370 shares of the stock were exchanged, 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 stock has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. The stock’s fifty day moving average is $10.54 and its 200 day moving average is $12.07.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Sell-side analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TENX has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Chardan Capital lowered Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a report on Tuesday, August 11th. Finally, Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target for the company. in a report on Tuesday, August 11th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, Tenax Therapeutics has a consensus rating of “Hold” and an average price target of $14.00.

Institutional Investors Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC increased its position in Tenax Therapeutics by 19.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock worth $776,000 after buying an additional 10,245 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter worth about $130,000. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter worth about $92,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics during the 4th quarter worth about $151,000. Finally, Bank of America Corp DE increased its holdings in shares of Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after acquiring an additional 14,789 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors.

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.