Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Buys 187,704 Shares of Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 187,704 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average price of $1.80 per share, with a total value of $337,867.20. Following the acquisition, the insider directly owned 5,624,151 shares in the company, valued at approximately $10,123,471.80. This trade represents a 3.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 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 Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.80 per share, for a total transaction of $322,304.40.
• On Monday, August 31st, Adar1 Capital Management, Llc purchased 403,571 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc acquired 716,369 shares of Tenax Therapeutics stock. The stock was acquired 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 stock was acquired at an average cost of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Trading Up 2.8%

NASDAQ:TENX opened at $1.85 on Thursday. The firm has a market capitalization of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.83. The firm’s fifty day simple moving average is $10.32 and its 200 day simple moving average is $11.99. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40.

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

Institutional Trading of Tenax Therapeutics

Several large investors have recently modified their holdings of TENX. Janus Henderson Group PLC increased its position in shares of Tenax Therapeutics by 989.3% during 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 boosted its holdings in Tenax Therapeutics by 235.2% in the first 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 purchased a new position in Tenax Therapeutics in the first quarter valued at about $3,453,000. Perceptive Advisors LLC boosted its holdings in 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 valued at $23,150,000 after purchasing an additional 1,008,640 shares during the last quarter. Finally, Stempoint Capital LP acquired a new stake in Tenax Therapeutics during the 1st quarter valued at approximately $3,017,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TENX shares. Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price for the company. in a research note on Tuesday, August 11th. Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday. Piper Sandler upped their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Finally, Chardan Capital cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” 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.