Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases $722,392.09 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 403,571 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $1.79 per share, with a total value of $722,392.09. Following the completion of the transaction, the insider owned 5,257,389 shares in the company, valued at approximately $9,410,726.31. This trade represents a 8.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares 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 shares were purchased 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 acquired 179,058 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The stock was purchased 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 purchased 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 shares were acquired at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Trading Up 2.8%

Shares of Tenax Therapeutics stock traded up $0.05 during trading on Wednesday, reaching $1.85. The company’s stock had a trading volume of 2,770,370 shares, compared to its average volume of 2,016,301. The company has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $12.07. The firm has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. Tenax Therapeutics, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $19.40.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TENX shares. William Blair downgraded shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Weiss Ratings upgraded Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tenax Therapeutics has an average rating of “Hold” and an average target price of $14.00.

Hedge Funds Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of TENX. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the 3rd quarter worth $92,000. Letko Brosseau & Associates Inc. acquired a new position in shares of Tenax Therapeutics during the fourth quarter worth about $130,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics during the fourth quarter worth about $151,000. Quadrature Capital Ltd purchased a new position in Tenax Therapeutics during the fourth quarter worth about $252,000. Finally, Goldman Sachs Group Inc. purchased a new position in Tenax Therapeutics during the fourth quarter worth about $273,000. 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.