Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Buys 202,124 Shares of Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $1.78 per share, for a total transaction of $359,780.72. Following the completion of the purchase, the insider directly owned 4,030,075 shares of the company’s stock, valued at approximately $7,173,533.50. This trade represents a 5.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.77 per share, for a total transaction of $1,267,973.13.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock traded up $0.10 during mid-day trading on Monday, reaching $1.85. 4,329,075 shares of the company traded hands, compared to its average volume of 1,785,332. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40. The firm has a market capitalization of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.93. The firm’s 50 day moving average price is $11.95 and its 200 day moving average price is $12.60.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, sell-side analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after acquiring an additional 1,648,808 shares during the last quarter. ADAR1 Capital Management LLC grew its position in Tenax Therapeutics by 235.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company’s stock valued at $3,413,000 after purchasing an additional 149,789 shares during the last quarter. Avidity Partners Management LP bought a new stake in Tenax Therapeutics during the 1st quarter valued at about $3,453,000. Stempoint Capital LP purchased a new position in Tenax Therapeutics in the first quarter worth about $3,017,000. Finally, Perceptive Advisors LLC lifted its stake in shares of Tenax Therapeutics by 229.7% in the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after buying an additional 1,008,640 shares in the last quarter. Institutional investors own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TENX shares. Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a research note on Tuesday, August 11th. Weiss Ratings lowered Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Piper Sandler upped their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Guggenheim set a $4.00 price objective on Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.