Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Acquires $1,602,000.00 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 900,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was bought at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the completion of the purchase, the insider owned 6,524,151 shares of the company’s stock, valued at approximately $11,612,988.78. The trade was a 16.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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, September 2nd, Adar1 Capital Management, Llc bought 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The shares were bought 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 purchased 403,571 shares of Tenax Therapeutics stock. The shares were 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 purchased 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 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 shares were purchased at an average cost of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Price Performance

TENX opened at $1.95 on Friday. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The company has a market capitalization of $72.97 million, a price-to-earnings ratio of -1.32 and a beta of 0.83. The firm’s fifty day moving average price is $8.89 and its two-hundred day moving average price is $11.54.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. As a group, equities analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group cut Tenax Therapeutics to a “neutral” rating in a research report on Monday, August 31st. Piper Sandler raised their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Evercore cut shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a research note on Tuesday, August 11th. Roth Capital set a $5.00 target price on shares of Tenax Therapeutics in a report on Monday, August 10th. Finally, Canaccord Genuity Group set a $4.00 target price on shares of Tenax Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 11th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Tenax Therapeutics has a consensus rating of “Hold” and an average target price of $14.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter worth approximately $92,000. Citadel Advisors LLC lifted its position in Tenax Therapeutics by 318.1% during the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after purchasing an additional 32,908 shares during the last quarter. Millennium Management LLC grew its stake in Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after buying an additional 79,998 shares in the last quarter. Woodline Partners LP purchased a new position in Tenax Therapeutics in the 3rd quarter worth approximately $671,000. Finally, Geode Capital Management LLC increased its holdings in shares of Tenax Therapeutics by 61.8% in the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after buying an additional 21,274 shares during the last quarter. Hedge funds and other 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.