Persistent Asset Partners Ltd Acquires Shares of 65,272 Tenax Therapeutics, Inc. $TENX

Persistent Asset Partners Ltd acquired a new position in Tenax Therapeutics, Inc. (NASDAQ:TENX) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 65,272 shares of the specialty pharmaceutical company’s stock, valued at approximately $796,000.

Several other hedge funds have also modified their holdings of TENX. Letko Brosseau & Associates Inc. purchased a new position in shares of Tenax Therapeutics in the 4th quarter valued at about $130,000. Virtu Financial LLC purchased a new position in Tenax Therapeutics during the third quarter worth approximately $92,000. Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics in the 4th quarter worth about $273,000. Citadel Advisors LLC raised its holdings in shares of Tenax Therapeutics by 318.1% during the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after acquiring an additional 32,908 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Tenax Therapeutics by 61.8% in the fourth quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after acquiring an additional 21,274 shares during the last quarter. 1.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TENX. Piper Sandler raised their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Cantor Fitzgerald started coverage on shares of Tenax Therapeutics in a research report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 target price for the company. Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. Guggenheim lifted their price target on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tenax Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Tenax Therapeutics Price Performance

Shares of NASDAQ:TENX opened at $11.33 on Wednesday. The firm has a market capitalization of $300.47 million, a PE ratio of -8.09 and a beta of 0.98. Tenax Therapeutics, Inc. has a 1 year low of $5.34 and a 1 year high of $18.38. The firm’s 50-day moving average is $12.60 and its two-hundred day moving average is $12.79.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Analysts expect that Tenax Therapeutics, Inc. will post -1.51 EPS for the current fiscal year.

Tenax Therapeutics 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.