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

Tenax Therapeutics, Inc. (NASDAQ:TENX) Director Declan Doogan acquired 53,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were purchased at an average cost of $1.92 per share, with a total value of $101,760.00. Following the completion of the acquisition, the director directly owned 55,274 shares in the company, valued at approximately $106,126.08. The trade was a 2,330.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tenax Therapeutics Trading Up 2.2%

Tenax Therapeutics stock opened at $1.86 on Friday. The company has a market cap of $69.60 million, a PE ratio of -1.26 and a beta of 0.83. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The company’s 50-day moving average is $7.37 and its two-hundred day moving average is $11.19.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. Research analysts forecast that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC grew 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 valued at $29,066,000 after buying an additional 1,648,808 shares during the period. Braidwell LP acquired a new stake in Tenax Therapeutics during the 2nd quarter worth $8,503,000. ADAR1 Capital Management LLC raised its stake in Tenax Therapeutics by 235.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company’s stock worth $3,413,000 after buying an additional 149,789 shares during the period. Avidity Partners Management LP bought a new position in Tenax Therapeutics during the first quarter worth about $3,453,000. Finally, Perceptive Advisors LLC lifted its holdings in Tenax Therapeutics by 229.7% during 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. 1.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TENX has been the topic of a number of analyst reports. Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 31st. UBS Group downgraded Tenax Therapeutics to a “neutral” rating in a report on Monday, August 31st. Canaccord Genuity Group set a $4.00 target price on Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Piper Sandler increased their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. One 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 issued a Sell rating to the company. According to MarketBeat.com, Tenax Therapeutics 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 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.