Key Points
- Christopher Thomas Giordano, Tenax's CEO, bought a total of 2,605 shares between Nov. 18–20 at an average cost of about $7.67 per share, spending roughly $19,993 on the insider purchases.
- Tenax is a small-cap (~$35.5M) specialty pharma with negative EPS that reported a ($0.40) quarterly loss beating estimates; the stock traded near $7.79, carries an average analyst target of $18 ("Moderate Buy"), and has low institutional ownership (~1.67%) despite recent position increases by firms like Citadel and Millennium.
Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) CEO Christopher Thomas Giordano purchased 1,612 shares of the company's stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average cost of $7.75 per share, with a total value of $12,493.00. Following the completion of the purchase, the chief executive officer owned 1,612 shares of the company's stock, valued at $12,493. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Christopher Thomas Giordano also recently made the following trade(s):
- On Thursday, November 20th, Christopher Thomas Giordano acquired 538 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $7.59 per share, for a total transaction of $4,083.42.
- On Wednesday, November 19th, Christopher Thomas Giordano acquired 455 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $7.51 per share, with a total value of $3,417.05.
Tenax Therapeutics Stock Up 1.1%
Shares of TENX stock traded up $0.09 during trading on Friday, reaching $7.79. The company's stock had a trading volume of 33,495 shares, compared to its average volume of 44,955. The company has a market cap of $35.52 million, a price-to-earnings ratio of -8.46 and a beta of 1.52. The business has a fifty day moving average price of $7.10 and a 200-day moving average price of $6.34. Tenax Therapeutics, Inc. has a one year low of $4.63 and a one year high of $8.24.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its earnings results on Wednesday, November 12th. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.93. Research analysts anticipate that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tenax Therapeutics in a report on Tuesday, November 11th. Piper Sandler began coverage on Tenax Therapeutics in a research note on Monday, September 8th. They set an "overweight" rating and a $20.00 target price on the stock. Guggenheim decreased their price objective on Tenax Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Tenax Therapeutics to a "sell" rating in a research note on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.00.
View Our Latest Report on Tenax Therapeutics
Institutional Investors Weigh In On Tenax Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the 3rd quarter valued at $92,000. Citadel Advisors LLC lifted its position in shares of Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company's stock worth $329,000 after buying an additional 32,908 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in Tenax Therapeutics by 98.1% in the first quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company's stock valued at $450,000 after buying an additional 34,048 shares in the last quarter. Woodline Partners LP bought a new position in Tenax Therapeutics in the third quarter valued at about $671,000. Finally, Millennium Management LLC grew its position in Tenax Therapeutics by 34.2% in the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company's stock valued at $2,387,000 after acquiring an additional 79,998 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors.
Tenax Therapeutics Company Profile
(
Get Free Report)
Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.
Further Reading
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