Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Acquires $406,947.20 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 254,342 shares of the stock in a transaction on Tuesday, October 20th. The shares were acquired at an average cost of $1.60 per share, with a total value of $406,947.20. Following the acquisition, the insider directly owned 7,115,021 shares in the company, valued at approximately $11,384,033.60. This trade represents a 3.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major 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 purchased 331,979 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.66 per share, for a total transaction of $551,085.14.
• On Monday, October 19th, Adar1 Capital Management, Llc purchased 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 purchased 900,000 shares of Tenax Therapeutics stock. The stock was 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 acquired 187,704 shares of Tenax Therapeutics stock. The shares were bought 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 acquired 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 acquired 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 bought 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 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 bought 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 Trading Down 2.3%

Tenax Therapeutics stock opened at $1.72 on Friday. The firm has a market capitalization of $64.36 million, a P/E ratio of -1.16 and a beta of 0.92. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The business has a 50-day moving average of $1.85 and a 200-day moving average of $9.01.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings results 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. Research analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TENX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenax Therapeutics in a research note on Thursday, September 10th. William Blair cut shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Guggenheim lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 31st. Weiss Ratings cut shares of Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. Finally, Wall Street Zen cut shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors have recently modified their holdings of TENX. Janus Henderson Group PLC raised its holdings in 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. Perceptive Advisors LLC lifted its stake in Tenax Therapeutics by 229.7% in the first 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 in the last quarter. Braidwell LP bought a new position in Tenax Therapeutics in the second quarter valued at approximately $8,503,000. Bank of New York Mellon Corp acquired a new position in shares of Tenax Therapeutics in the second quarter valued at approximately $4,733,000. Finally, Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics in the first quarter valued at approximately $3,453,000. Institutional investors own 1.67% of the company’s stock.

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.