Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Buys 900,000 Shares of Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 900,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the completion of the transaction, the insider owned 6,524,151 shares of the company’s stock, valued at $11,612,988.78. This represents a 16.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 2nd, Adar1 Capital Management, Llc bought 187,704 shares of Tenax Therapeutics stock. The stock was acquired at an average price of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The stock was acquired at an average cost 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 bought at an average price of $1.79 per share, with a total value of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The shares were bought 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 bought 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 acquired 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Up 2.1%

TENX stock opened at $1.98 on Wednesday. Tenax Therapeutics, Inc. has a twelve month low of $1.31 and a twelve month high of $19.40. The stock’s 50 day moving average is $9.38 and its 200-day moving average is $11.69. The firm has a market capitalization of $74.09 million, a PE ratio of -1.34 and a beta of 0.83.

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, topping the consensus estimate of ($0.38) by $0.03. On average, equities research analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on TENX shares. Piper Sandler upped their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. UBS Group lowered shares of Tenax Therapeutics to a “neutral” rating in a research report on Monday, August 31st. Evercore cut shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a report on Tuesday, August 11th. Guggenheim downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 31st. Finally, Weiss Ratings raised shares of Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TENX. Janus Henderson Group PLC increased its position in shares of Tenax Therapeutics by 989.3% during 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 purchasing an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after purchasing an additional 1,008,640 shares during the period. Braidwell LP purchased a new position in shares of Tenax Therapeutics in the 2nd quarter worth about $8,503,000. Bank of New York Mellon Corp purchased a new position in shares of Tenax Therapeutics in the 2nd quarter worth about $4,733,000. Finally, Diadema Partners LP bought a new position in Tenax Therapeutics during the fourth quarter valued at about $2,964,000. 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.