Braidwell LP Buys Shares of 584,412 Tenax Therapeutics, Inc. $TENX

Braidwell LP bought a new position in Tenax Therapeutics, Inc. (NASDAQ:TENX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 584,412 shares of the specialty pharmaceutical company’s stock, valued at approximately $8,503,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Tenax Therapeutics by 989.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after buying an additional 1,648,808 shares in the last quarter. ADAR1 Capital Management LLC lifted its stake 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 acquiring an additional 149,789 shares during the last quarter. Avidity Partners Management LP bought a new stake in Tenax Therapeutics in the first quarter worth approximately $3,453,000. Perceptive Advisors LLC grew its position 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 worth $23,150,000 after acquiring an additional 1,008,640 shares in the last quarter. Finally, Stempoint Capital LP acquired a new position in shares of Tenax Therapeutics during the 1st quarter worth $3,017,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

Tenax Therapeutics Trading Up 2.8%

Shares of TENX stock opened at $1.85 on Thursday. The stock has a 50 day moving average of $10.32 and a two-hundred day moving average of $11.99. Tenax Therapeutics, Inc. has a 12 month low of $1.31 and a 12 month high of $19.40. The company has a market capitalization of $69.23 million, a P/E ratio of -1.25 and a beta of 0.83.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Sell-side analysts predict that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenax Therapeutics news, major shareholder Adar1 Capital Management, Llc purchased 716,369 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $1.77 per share, for a total transaction of $1,267,973.13. Following the completion of the purchase, the insider directly owned 4,746,444 shares of the company’s stock, valued at approximately $8,401,205.88. This represents a 17.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,796,200 shares of company stock valued at $3,198,222 over the last three months. 10.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TENX has been the subject of several analyst reports. Canaccord Genuity Group set a $4.00 price objective on shares of Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 11th. Roth Capital set a $5.00 price target on Tenax Therapeutics in a research report on Monday, August 10th. Weiss Ratings upgraded Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 28th. William Blair downgraded Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Chardan Capital lowered Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” 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.