Key Points
- Director Declan Doogan purchased 53,000 Tenax Therapeutics shares at an average price of $1.92, investing $101,760 and increasing his holdings by approximately 2,331% to 55,274 shares.
- Tenax shares opened at $1.86 and have traded between $1.31 and $19.40 over the past year. The company remains unprofitable, though its latest quarterly loss of $0.35 per share was better than analyst expectations.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $14 price target; several firms recently downgraded the stock, while institutional ownership remains low at 1.67%.
Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) Director Declan Doogan purchased 53,000 shares of the business's stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $1.92 per share, for a total transaction of $101,760.00. Following the purchase, the director owned 55,274 shares of the company's stock, valued at approximately $106,126.08. This represents a 2,330.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Tenax Therapeutics Stock Up 2.2%
Shares of TENX stock opened at $1.86 on Friday. Tenax Therapeutics, Inc. has a 12-month low of $1.31 and a 12-month high of $19.40. The firm has a fifty day moving average of $7.37 and a 200-day moving average of $11.19. The company has a market capitalization of $69.60 million, a price-to-earnings ratio of -1.26 and a beta of 0.83.
Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.03. On average, equities analysts expect that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.
Institutional Trading of Tenax Therapeutics
Institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in shares of Tenax Therapeutics in the second quarter valued at approximately $485,000. Braidwell LP bought a new position in Tenax Therapeutics in the 2nd quarter valued at about $8,503,000. Wellington Management Group LLP acquired a new position in Tenax Therapeutics during the second quarter valued at approximately $1,390,000. Bank of New York Mellon Corp bought a new stake in shares of Tenax Therapeutics during the 2nd quarter worth $4,733,000. Finally, 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 purchasing an additional 1,008,640 shares in the last quarter. Institutional investors own 1.67% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on TENX shares. Wall Street Zen lowered shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Chardan Capital downgraded Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 price target for the company. in a research note on Tuesday, August 11th. Piper Sandler boosted their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Guggenheim lowered Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday, August 31st. Finally, Roth Capital set a $5.00 price objective on shares of Tenax Therapeutics in a research report on Monday, August 10th. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.00.
Read Our Latest Research Report on Tenax Therapeutics
Tenax Therapeutics Company Profile
(
Get Free Report)
Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company's primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).
Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.
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