Stuart Rich Acquires 1,500 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) insider Stuart Rich acquired 1,500 shares of Tenax Therapeutics stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average cost of $9.08 per share, with a total value of $13,620.00. Following the completion of the acquisition, the insider directly owned 2,766 shares in the company, valued at $25,115.28. This trade represents a 118.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Stuart Rich also recently made the following trade(s):

• On Thursday, December 4th, Stuart Rich bought 2,500 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $9.20 per share, for a total transaction of $23,000.00.
• On Tuesday, December 2nd, Stuart Rich purchased 1,000 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $9.01 per share, with a total value of $9,010.00.

Tenax Therapeutics Stock Up 3.2%

TENX traded up $0.30 during midday trading on Friday, reaching $9.65. 168,431 shares of the company’s stock were exchanged, compared to its average volume of 50,192. The business has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $6.58. The firm has a market capitalization of $60.25 million, a price-to-earnings ratio of -8.54 and a beta of 1.55. Tenax Therapeutics, Inc. has a one year low of $4.63 and a one year high of $9.91.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings data on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($1.33) by $0.93. As a group, research analysts anticipate that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the third quarter valued at $92,000. Citadel Advisors LLC grew its holdings in Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in Tenax Therapeutics by 98.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after acquiring an additional 34,048 shares during the last quarter. Millennium Management LLC increased its position 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 valued at $2,387,000 after acquiring an additional 79,998 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in Tenax Therapeutics in the 3rd quarter valued at about $671,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen upgraded Tenax Therapeutics to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Tenax Therapeutics in a research note on Monday. Piper Sandler started coverage on shares of Tenax Therapeutics in a report on Monday, September 8th. They issued an “overweight” rating and a $20.00 target price on the stock. Finally, Guggenheim dropped their target price on shares of Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

About Tenax Therapeutics

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.