Stempoint Capital LP Takes Position in Tenax Therapeutics, Inc. $TENX

Stempoint Capital LP purchased a new stake in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) in the 1st quarter, Holdings Channel.com reports. The fund purchased 188,700 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,017,000.

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

Tenax Therapeutics Trading Down 6.2%

Shares of TENX opened at $14.82 on Thursday. The stock has a market capitalization of $393.03 million, a P/E ratio of -10.59 and a beta of 0.92. The firm’s fifty day simple moving average is $13.54 and its two-hundred day simple moving average is $13.58. Tenax Therapeutics, Inc. has a 12 month low of $5.78 and a 12 month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. As a group, research analysts predict that Tenax Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TENX. Evercore initiated coverage on Tenax Therapeutics in a research note on Wednesday, July 22nd. They issued an “outperform” rating and a $39.00 price target for the company. Canaccord Genuity Group assumed coverage on Tenax Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a research report on Wednesday. Finally, Piper Sandler raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Tenax Therapeutics 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.