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

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 107,374 shares of the business’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $187,904.50. Following the transaction, the insider owned 4,853,818 shares of the company’s stock, valued at $8,494,181.50. This trade represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, August 21st, Adar1 Capital Management, Llc acquired 716,369 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.77 per share, with a total value of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Trading Up 5.7%

Shares of TENX opened at $1.85 on Tuesday. The company’s 50 day simple moving average is $11.75 and its 200-day simple moving average is $12.52. The firm has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.93. Tenax Therapeutics, Inc. has a 12-month low of $1.31 and a 12-month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. As a group, equities research analysts forecast that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Ratings Changes

TENX has been the subject of a number of research reports. Roth Capital set a $5.00 target price on shares of Tenax Therapeutics in a report on Monday, August 10th. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Chardan Capital downgraded Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Tuesday, August 11th. Weiss Ratings cut Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tenax Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Hedge Funds Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of TENX. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the 3rd quarter worth $92,000. Citadel Advisors LLC lifted its position in Tenax Therapeutics by 318.1% in the third 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 period. Millennium Management LLC boosted 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 purchasing an additional 79,998 shares in the last quarter. Woodline Partners LP purchased a new stake in Tenax Therapeutics in the 3rd quarter valued at approximately $671,000. Finally, Geode Capital Management LLC increased its position in Tenax Therapeutics by 61.8% during the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after purchasing an additional 21,274 shares during the period. Hedge funds and other institutional investors own 1.67% of the company’s stock.

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.