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 stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $25,250.00. Following the completion of the transaction, the insider owned 5,000 shares of the company’s stock, valued at approximately $50,500. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, December 4th, Stuart Rich purchased 2,500 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $9.20 per share, with a total value of $23,000.00.
• On Wednesday, December 3rd, Stuart Rich bought 1,500 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $9.08 per share, with a total value of $13,620.00.
• On Tuesday, December 2nd, Stuart Rich purchased 1,000 shares of Tenax Therapeutics stock. The stock was bought at an average price of $9.01 per share, for a total transaction of $9,010.00.

Tenax Therapeutics Stock Down 0.3%

TENX traded down $0.03 on Wednesday, hitting $9.82. 118,925 shares of the company traded hands, compared to its average volume of 52,273. Tenax Therapeutics, Inc. has a 12-month low of $4.63 and a 12-month high of $10.55. The company has a 50 day moving average of $7.81 and a 200-day moving average of $6.67. The stock has a market capitalization of $61.28 million, a PE ratio of -8.69 and a beta of 1.55.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Guggenheim lowered their target price on shares of Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Tenax Therapeutics in a research report on Monday, December 1st. Piper Sandler assumed coverage on Tenax Therapeutics in a research report on Monday, September 8th. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Wall Street Zen raised Tenax Therapeutics to a “sell” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC acquired a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at approximately $2,680,000. Millennium Management LLC increased its stake 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 purchasing an additional 79,998 shares in the last quarter. Woodline Partners LP acquired a new position in Tenax Therapeutics during the third quarter worth $671,000. ADAR1 Capital Management LLC raised its holdings in Tenax Therapeutics by 98.1% during the first 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 last quarter. Finally, Citadel Advisors LLC boosted its position in Tenax Therapeutics by 318.1% during the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after purchasing an additional 32,908 shares in the last quarter. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.