Tenax Therapeutics (NASDAQ:TENX) Insider Stuart Rich Buys 2,500 Shares

Tenax Therapeutics, Inc. (NASDAQ:TENX) insider Stuart Rich bought 2,500 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were bought at an average cost of $9.20 per share, for a total transaction of $23,000.00. Following the completion of the transaction, the insider directly owned 2,500 shares of the company’s stock, valued at $23,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, December 3rd, Stuart Rich purchased 1,500 shares of Tenax Therapeutics stock. The stock was bought at an average price of $9.08 per share, with a total value of $13,620.00.
• On Tuesday, December 2nd, Stuart Rich acquired 1,000 shares of Tenax Therapeutics stock. The shares were bought at an average price of $9.01 per share, for a total transaction of $9,010.00.

Tenax Therapeutics Trading Up 3.2%

Shares of TENX traded up $0.30 during midday trading on Friday, hitting $9.65. The stock had a trading volume of 168,431 shares, 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 cap of $60.25 million, a P/E ratio of -8.54 and a beta of 1.55. Tenax Therapeutics, Inc. has a fifty-two week low of $4.63 and a fifty-two week high of $9.91.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.93. On average, analysts expect that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TENX has been the topic of several research analyst reports. Guggenheim lowered their target price on Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen upgraded shares of Tenax Therapeutics to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenax Therapeutics in a research note on Monday. Finally, Piper Sandler began coverage on shares of Tenax Therapeutics in a research report on Monday, September 8th. They issued an “overweight” rating and a $20.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the third quarter valued at about $92,000. Citadel Advisors LLC raised its stake 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 valued at $329,000 after purchasing an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of 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 purchasing an additional 34,048 shares during the period. Woodline Partners LP acquired a new stake in Tenax Therapeutics during the third quarter worth about $671,000. Finally, Millennium Management LLC raised its holdings 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. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.