Declan Doogan Buys 53,000 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) Director Declan Doogan acquired 53,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $1.92 per share, with a total value of $101,760.00. Following the completion of the transaction, the director owned 55,274 shares in the company, valued at $106,126.08. The trade was a 2,330.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tenax Therapeutics Stock Up 2.2%

NASDAQ:TENX opened at $1.90 on Friday. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40. The stock’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $11.12. The firm has a market capitalization of $71.10 million, a PE ratio of -1.28 and a beta of 0.83.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings 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 worth $29,066,000 after acquiring an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of 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 in the last quarter. Braidwell LP bought a new position in shares of Tenax Therapeutics in the second quarter valued at approximately $8,503,000. Bank of New York Mellon Corp purchased a new position in shares of Tenax Therapeutics during the second quarter valued at approximately $4,733,000. Finally, Avidity Partners Management LP bought a new stake in Tenax Therapeutics during the first quarter worth $3,453,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TENX has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Tenax Therapeutics in a research report on Thursday, September 10th. Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a research report on Tuesday, August 11th. UBS Group cut Tenax Therapeutics to a “neutral” rating in a report on Monday, August 31st. William Blair lowered Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Guggenheim downgraded Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company’s primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.