Adar1 Capital Management, Llc Purchases 179,058 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc acquired 179,058 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $1.80 per share, with a total value of $322,304.40. Following the completion of the acquisition, the insider owned 5,436,447 shares of the company’s stock, valued at approximately $9,785,604.60. This trade represents a 3.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 bought 187,704 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.80 per share, for a total transaction 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 cost of $1.79 per share, for a total transaction of $722,392.09.
• On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The shares were purchased 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 bought 716,369 shares of Tenax Therapeutics stock. The shares were purchased at an average price 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 shares were purchased at an average cost of $1.78 per share, with a total value of $359,780.72.

Tenax Therapeutics Stock Down 3.8%

NASDAQ:TENX opened at $1.78 on Friday. The firm has a market cap of $66.61 million, a PE ratio of -1.20 and a beta of 0.83. Tenax Therapeutics, Inc. has a 12 month low of $1.31 and a 12 month high of $19.40. The company’s 50-day moving average price is $10.09 and its two-hundred day moving average price is $11.91.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, research analysts expect that Tenax Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target for the company. in a report on Tuesday, August 11th. Piper Sandler boosted their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, Tenax Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Institutional Trading of Tenax Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Tenax Therapeutics in the 3rd quarter worth approximately $92,000. Letko Brosseau & Associates Inc. bought a new position in Tenax Therapeutics in the 4th quarter valued at $130,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics in the 4th quarter valued at $151,000. Quadrature Capital Ltd acquired a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

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.