Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Insider Purchases 2,500 Shares of Stock

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

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

Tenax Therapeutics Price Performance

Shares of TENX traded up $0.30 during trading hours on Friday, hitting $9.65. The stock had a trading volume of 168,431 shares, compared to its average volume of 50,192. The company’s fifty day moving average is $7.66 and its two-hundred day moving average is $6.58. Tenax Therapeutics, Inc. has a 52 week low of $4.63 and a 52 week high of $9.91. The stock has a market capitalization of $60.25 million, a price-to-earnings ratio of -8.54 and a beta of 1.55.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.93. Equities analysts predict that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the 3rd quarter valued at about $92,000. Citadel Advisors LLC increased its holdings in shares of Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC lifted its holdings in 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 valued at $450,000 after purchasing an additional 34,048 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Tenax Therapeutics in the third quarter valued at $671,000. Finally, Millennium Management LLC lifted its stake in shares of Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after buying an additional 79,998 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on TENX shares. Wall Street Zen raised Tenax Therapeutics to a “sell” rating in a report on Saturday, October 25th. Guggenheim dropped their price objective on shares of Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. Piper Sandler assumed coverage on shares of Tenax Therapeutics in a report on Monday, September 8th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenax Therapeutics in a report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

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.