Key Points
- Adar1 Capital Management bought 254,342 Tenax Therapeutics shares for $406,947.20, increasing its ownership by 3.71% to 7.12 million shares. The major shareholder has also made several additional purchases in recent months.
- TENX opened at $1.63, with a $61 million market capitalization, and has fallen substantially from its 52-week high of $19.40; its 52-week low is $1.31.
- Analyst sentiment is mixed, with a consensus “Hold” rating despite some Buy recommendations and price targets above the current share price. Tenax reported quarterly EPS of negative $0.35, beating estimates of negative $0.38.
Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 254,342 shares of Tenax Therapeutics stock in a transaction that occurred on Tuesday, October 20th. The shares were bought at an average cost of $1.60 per share, with a total value of $406,947.20. Following the transaction, the insider owned 7,115,021 shares in the company, valued at $11,384,033.60. This represents a 3.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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, October 21st, Adar1 Capital Management, Llc acquired 331,979 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.66 per share, with a total value of $551,085.14.
- On Monday, October 19th, Adar1 Capital Management, Llc bought 336,528 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.51 per share, for a total transaction of $508,157.28.
- On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, for a total transaction of $1,602,000.00.
- On Wednesday, September 2nd, Adar1 Capital Management, Llc bought 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 bought 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 purchased 403,571 shares of Tenax Therapeutics stock. The shares were bought 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 purchased 107,374 shares of Tenax Therapeutics stock. The shares were bought 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 stock was bought 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 purchased 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 Price Performance
TENX opened at $1.63 on Thursday. The firm has a market cap of $61.00 million, a PE ratio of -1.10 and a beta of 0.92. The stock has a 50-day moving average price of $1.85 and a 200-day moving average price of $9.15. 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 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. As a group, sell-side analysts anticipate that Tenax Therapeutics, Inc. will post -1.38 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Tenax Therapeutics by 989.3% during 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 boosted its position in shares of Tenax Therapeutics by 229.7% during the first 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 last quarter. Braidwell LP purchased a new stake in shares of Tenax Therapeutics during the second quarter valued at $8,503,000. Bank of New York Mellon Corp bought a new stake in Tenax Therapeutics in the 2nd quarter worth about $4,733,000. Finally, Avidity Partners Management LP bought a new stake in Tenax Therapeutics in the 1st quarter worth about $3,453,000. Hedge funds and other institutional investors own 1.67% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Canaccord Genuity Group set a $4.00 target price on shares of Tenax Therapeutics and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, September 14th. UBS Group downgraded shares of Tenax Therapeutics to a "neutral" rating in a research report on Monday, August 31st. Wall Street Zen downgraded shares of Tenax Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Roth Capital set a $5.00 price objective on shares of Tenax Therapeutics in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tenax Therapeutics has a consensus rating of "Hold" and a consensus target price of $14.00.
Get Our Latest Stock Analysis on TENX
About Tenax Therapeutics
(
Get Free Report)
Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company's research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.
Tenax's primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.
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