Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock in a transaction dated Thursday, September 3rd. The shares were bought at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the completion of the transaction, the insider directly owned 6,524,151 shares in the company, valued at approximately $11,612,988.78. This trade represents a 16.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, September 2nd, Adar1 Capital Management, Llc purchased 187,704 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.80 per share, for a total transaction of $337,867.20.
- On Tuesday, September 1st, Adar1 Capital Management, Llc purchased 179,058 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.80 per share, for a total transaction of $322,304.40.
- On Monday, August 31st, Adar1 Capital Management, Llc acquired 403,571 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.79 per share, for a total transaction of $722,392.09.
- On Monday, August 24th, Adar1 Capital Management, Llc acquired 107,374 shares of Tenax Therapeutics stock. The shares were purchased 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 shares were purchased at an average cost of $1.77 per share, with a total value of $1,267,973.13.
- On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.78 per share, with a total value of $359,780.72.
Tenax Therapeutics Price Performance
NASDAQ:TENX opened at $1.98 on Wednesday. The company has a market capitalization of $74.09 million, a P/E ratio of -1.34 and a beta of 0.83. The business has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $11.69. Tenax Therapeutics, Inc. has a 1 year low of $1.31 and a 1 year high of $19.40.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.03. As a group, analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have commented on TENX. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Chardan Capital downgraded shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research note on Tuesday, August 11th. Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a research note on Tuesday, August 11th. Guggenheim lowered shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, August 31st. Finally, Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the company a "buy" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.00.
Check Out Our Latest Analysis on TENX
Hedge Funds Weigh In On Tenax Therapeutics
Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in shares of Tenax Therapeutics by 989.3% in 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 purchasing an additional 1,648,808 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company's stock worth $23,150,000 after purchasing an additional 1,008,640 shares in the last quarter. Braidwell LP purchased a new stake in Tenax Therapeutics during the 2nd quarter worth about $8,503,000. Bank of New York Mellon Corp bought a new position in Tenax Therapeutics in the 2nd quarter worth about $4,733,000. Finally, Diadema Partners LP bought a new position in Tenax Therapeutics in the 4th quarter worth about $2,964,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.
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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