Key Points
- CEO Christopher Giordano bought 6,000 Tenax shares at an average $1.88 per share, investing $11,280 and increasing his direct ownership by 52.98% to 17,324 shares. He also purchased 4,850 shares in a separate transaction at $1.82 per share.
- Tenax shares opened at $1.83, with a $68.48 million market capitalization, after trading between $1.31 and $19.40 over the past year. The company reported a quarterly loss of $0.35 per share, slightly better than the $0.38 consensus estimate.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $14 price target; ratings range from “Strong Buy” to “Sell.” Institutional investors own 1.67% of the company, while several funds recently increased or initiated positions.
Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) CEO Christopher Giordano acquired 6,000 shares of Tenax Therapeutics stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average cost of $1.88 per share, with a total value of $11,280.00. Following the purchase, the chief executive officer directly owned 17,324 shares of the company's stock, valued at $32,569.12. This represents a 52.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Christopher Thomas Giordano also recently made the following trade(s):
- On Tuesday, September 15th, Christopher Giordano acquired 4,850 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.82 per share, for a total transaction of $8,827.00.
Tenax Therapeutics Stock Performance
NASDAQ:TENX opened at $1.83 on Wednesday. The stock has a market capitalization of $68.48 million, a P/E ratio of -1.24 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. The company's 50-day simple moving average is $8.02 and its 200-day simple moving average is $11.33.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, research analysts forecast that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of TENX. Janus Henderson Group PLC increased its holdings in Tenax Therapeutics by 989.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company's stock worth $29,066,000 after purchasing an additional 1,648,808 shares during the period. Perceptive Advisors LLC boosted its stake in shares of Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company's stock valued at $23,150,000 after buying an additional 1,008,640 shares during the period. Braidwell LP purchased a new position in shares of Tenax Therapeutics in the 2nd quarter valued at about $8,503,000. Bank of New York Mellon Corp acquired a new position in shares of Tenax Therapeutics during the second quarter worth about $4,733,000. Finally, Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics during the first quarter worth about $3,453,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on TENX shares. Weiss Ratings lowered Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. Wall Street Zen lowered shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the company a "buy" rating in a research report on Tuesday, August 11th. William Blair lowered Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, August 10th. Finally, UBS Group cut shares of Tenax Therapeutics to a "neutral" rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tenax Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $14.00.
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About Tenax Therapeutics
(
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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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