Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $1.75 per share, with a total value of $187,904.50. Following the acquisition, the insider owned 4,853,818 shares of the company's stock, valued at $8,494,181.50. This trade represents a 2.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The shares were 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 purchased 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.78 per share, for a total transaction of $359,780.72.
Tenax Therapeutics Stock Up 5.7%
Shares of TENX opened at $1.85 on Tuesday. The company has a 50-day simple moving average of $11.75 and a 200-day simple moving average of $12.52. The company has a market capitalization of $69.23 million, a PE ratio of -1.25 and a beta of 0.93. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, research analysts anticipate that Tenax Therapeutics, Inc. will post -1.41 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the stock a "buy" rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $35.00 target price on shares of Tenax Therapeutics in a research report on Wednesday, July 29th. Guggenheim set a $4.00 price target on Tenax Therapeutics and gave the company a "buy" rating in a research report on Tuesday, August 11th. Piper Sandler boosted their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Finally, Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.00.
View Our Latest Analysis on Tenax Therapeutics
Hedge Funds Weigh In On Tenax Therapeutics
Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics in the third quarter valued at $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics in the 4th quarter valued at about $130,000. Corient Private Wealth LLC purchased a new position in Tenax Therapeutics in the 4th quarter valued at about $151,000. Quadrature Capital Ltd acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth about $252,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Tenax Therapeutics during the fourth quarter worth about $273,000. Hedge funds and other institutional investors own 1.67% of the company's stock.
About Tenax Therapeutics
(
Get Free Report)
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.
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