Adar1 Capital Management, Llc Buys 107,374 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 107,374 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $1.75 per share, with a total value of $187,904.50. Following the transaction, the insider owned 4,853,818 shares in the company, valued at $8,494,181.50. This trade represents a 2.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc acquired 202,124 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Up 25.4%

Tenax Therapeutics stock opened at $2.32 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 capitalization of $86.81 million, a price-to-earnings ratio of -1.57 and a beta of 0.93. The stock has a 50-day moving average price of $11.57 and a 200 day moving average price of $12.45.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results 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 -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TENX. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics during the 3rd quarter valued at approximately $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics during the fourth quarter worth $130,000. Corient Private Wealth LLC acquired a new position in Tenax Therapeutics during the fourth quarter worth $151,000. Quadrature Capital Ltd purchased a new position in Tenax Therapeutics during the fourth quarter valued at $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $273,000. 1.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on TENX shares. Weiss Ratings cut shares of Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Finally, Guggenheim set a $4.00 price target on Tenax Therapeutics and gave the company a “buy” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

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.