Christopher Thomas Giordano Buys 6,000 Shares of Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) CEO Christopher Giordano purchased 6,000 shares of Tenax Therapeutics stock in a transaction dated Friday, September 11th. The shares were purchased at an average price of $1.88 per share, with a total value of $11,280.00. Following the completion of the transaction, the chief executive officer directly owned 17,324 shares in the company, valued at approximately $32,569.12. This represents a 52.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

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 stock was acquired at an average price of $1.82 per share, for a total transaction of $8,827.00.

Tenax Therapeutics Stock Performance

Shares of TENX stock opened at $1.82 on Thursday. The company has a market capitalization of $68.10 million, a PE ratio of -1.23 and a beta of 0.83. Tenax Therapeutics, Inc. has a 52-week low of $1.31 and a 52-week high of $19.40. The business’s fifty day moving average is $7.70 and its 200 day moving average is $11.26.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, sell-side analysts forecast that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Large investors have recently modified their holdings of the company. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics in the 4th quarter worth approximately $130,000. Bank of America Corp DE raised its stake in shares of Tenax Therapeutics by 391.2% during the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock worth $297,000 after acquiring an additional 14,789 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Tenax Therapeutics in the 1st quarter worth approximately $501,000. Squarepoint Ops LLC bought a new stake in shares of Tenax Therapeutics in the 2nd quarter worth approximately $485,000. Finally, Artia Global Partners LP purchased a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $513,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TENX. Roth Capital set a $5.00 price objective on shares of Tenax Therapeutics in a research report on Monday, August 10th. Evercore lowered shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price for the company. in a research report on Tuesday, August 11th. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. Finally, Wall Street Zen cut shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

About Tenax Therapeutics

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.