Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Adar1 Capital Management, Llc Buys 403,571 Shares of Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc bought 403,571 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $1.79 per share, for a total transaction of $722,392.09. Following the completion of the purchase, the insider directly owned 5,257,389 shares in the company, valued at approximately $9,410,726.31. The trade was a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock 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 purchased 187,704 shares of Tenax Therapeutics stock. The shares were acquired at an average price of $1.80 per share, with a total value of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc acquired 179,058 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The shares were acquired at an average cost 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 price of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Price Performance

Shares of Tenax Therapeutics stock opened at $1.85 on Thursday. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40. The firm has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. The company has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $11.99.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. As a group, research analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TENX has been the subject of several analyst reports. Guggenheim lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday. Canaccord Genuity Group set a $4.00 target price on shares of Tenax Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Chardan Capital lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a report on Tuesday, August 11th. Piper Sandler increased their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Wall Street Zen lowered shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. One equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Tenax Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Tenax Therapeutics by 989.3% during the first 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. 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 worth $3,413,000 after acquiring an additional 149,789 shares during the period. Avidity Partners Management LP purchased a new stake in Tenax Therapeutics in the first quarter worth $3,453,000. Perceptive Advisors LLC boosted its holdings 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 valued at $23,150,000 after acquiring an additional 1,008,640 shares in the last quarter. Finally, Stempoint Capital LP bought a new stake in Tenax Therapeutics in the first quarter valued at $3,017,000. Hedge funds and other 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.