Tenax Therapeutics (NASDAQ:TENX) CEO Christopher Thomas Giordano Acquires 6,000 Shares

Tenax Therapeutics, Inc. (NASDAQ:TENX) CEO Christopher Giordano bought 6,000 shares of the stock in a transaction on Friday, September 11th. The stock was purchased at an average cost of $1.88 per share, for a total transaction of $11,280.00. Following the acquisition, the chief executive officer owned 17,324 shares of the company’s stock, valued at $32,569.12. This trade represents a 52.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Christopher Thomas Giordano also recently made the following trade(s):

• On Tuesday, September 15th, Christopher Giordano bought 4,850 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.82 per share, for a total transaction of $8,827.00.

Tenax Therapeutics Stock Down 1.6%

Tenax Therapeutics stock opened at $1.83 on Wednesday. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40. The company has a market cap of $68.48 million, a P/E ratio of -1.24 and a beta of 0.83. The business has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $11.33.

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, topping the consensus estimate of ($0.38) by $0.03. Research analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

TENX has been the topic of several analyst reports. Chardan Capital cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Tuesday, August 11th. Wall Street Zen lowered Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 31st. Evercore downgraded Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research report on Tuesday, August 11th. Finally, William Blair lowered Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TENX. Letko Brosseau & Associates Inc. bought a new position in shares of Tenax Therapeutics during the 4th quarter valued at approximately $130,000. Bank of America Corp DE boosted its stake 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 worth $297,000 after purchasing an additional 14,789 shares during the period. Renaissance Technologies LLC grew its stake in shares of Tenax Therapeutics by 21.5% during the first quarter. Renaissance Technologies LLC now owns 152,600 shares of the specialty pharmaceutical company’s stock valued at $2,440,000 after buying an additional 27,021 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Tenax Therapeutics in the 1st quarter valued at $501,000. Finally, Squarepoint Ops LLC purchased a new position in Tenax Therapeutics in the 2nd quarter worth about $485,000. Institutional investors own 1.67% of the company’s stock.

About Tenax Therapeutics

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.