Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Acquires $187,904.50 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $187,904.50. Following the completion of the acquisition, the insider directly owned 4,853,818 shares in the company, valued at approximately $8,494,181.50. The trade was a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 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 Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The shares were acquired 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 purchased 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 Stock Down 8.6%

Shares of Tenax Therapeutics stock opened at $2.12 on Thursday. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40. The stock has a market cap of $79.33 million, a price-to-earnings ratio of -1.43 and a beta of 0.93. The company’s fifty day moving average is $11.38 and its 200 day moving average is $12.37.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. As a group, equities analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Tenax Therapeutics in the third quarter worth approximately $92,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth approximately $130,000. Corient Private Wealth LLC acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth approximately $151,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TENX. Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings lowered shares of Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Chardan Capital lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tenax Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.