Key Points
- Adar1 Capital Management purchased 187,704 Tenax Therapeutics shares at an average price of $1.80, increasing its position by 3.45% to 5.62 million shares. The major shareholder also made several purchases in August and early September.
- Tenax shares opened at $1.85, with a market capitalization of approximately $69.2 million and a 52-week range of $1.31 to $19.40. The company reported a quarterly loss of $0.35 per share, beating the consensus estimate of a $0.38 loss.
- Analyst sentiment is mixed, with ratings ranging from strong buy to sell; the consensus rating is Hold, with an average price target of $14.00. Institutional investors and hedge funds own just 1.67% of the company.
Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc purchased 179,058 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $1.80 per share, for a total transaction of $322,304.40. Following the completion of the transaction, the insider owned 5,436,447 shares of the company's stock, valued at $9,785,604.60. This trade represents a 3.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Wednesday, September 2nd, Adar1 Capital Management, Llc acquired 187,704 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.80 per share, with a total value of $337,867.20.
- On Monday, August 31st, Adar1 Capital Management, Llc bought 403,571 shares of Tenax Therapeutics stock. The stock was purchased 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 acquired 107,374 shares of Tenax Therapeutics stock. The shares were acquired 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 purchased 716,369 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.77 per share, for a total transaction 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 Performance
NASDAQ TENX opened at $1.85 on Thursday. The firm's fifty day moving average price is $10.32 and its two-hundred day moving average price is $11.99. The stock has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. Tenax Therapeutics, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $19.40.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. As a group, sell-side analysts predict that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tenax Therapeutics
Institutional investors and hedge funds have recently made changes to their positions in the business. Letko Brosseau & Associates Inc. bought a new position in Tenax Therapeutics in the 4th quarter valued at about $130,000. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the 3rd quarter worth approximately $92,000. Corient Private Wealth LLC bought a new stake in Tenax Therapeutics during the 4th quarter worth approximately $151,000. Bank of America Corp DE raised its stake in shares of Tenax Therapeutics by 391.2% in the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company's stock worth $297,000 after purchasing an additional 14,789 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Tenax Therapeutics in the fourth quarter worth approximately $252,000. Institutional investors and hedge funds own 1.67% of the company's stock.
Wall Street Analysts Forecast Growth
TENX has been the subject of several research analyst reports. Roth Capital set a $5.00 price target on shares of Tenax Therapeutics in a research note on Monday, August 10th. Canaccord Genuity Group set a $4.00 target price on Tenax Therapeutics and gave the company a "buy" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price target on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. William Blair lowered Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, August 10th. Finally, Guggenheim cut Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, Tenax Therapeutics presently has an average rating of "Hold" and a consensus target price of $14.00.
View Our Latest Research Report on TENX
Tenax Therapeutics Company Profile
(
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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