Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 716,369 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $1.77 per share, for a total transaction of $1,267,973.13. Following the completion of the purchase, the insider directly owned 4,746,444 shares of the company’s stock, valued at approximately $8,401,205.88. The trade was a 17.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.75 per share, with a total value of $187,904.50.
- On Thursday, August 20th, Adar1 Capital Management, Llc bought 202,124 shares of Tenax Therapeutics stock. The stock was acquired at an average cost of $1.78 per share, for a total transaction of $359,780.72.
Tenax Therapeutics Price Performance
Shares of TENX opened at $1.85 on Tuesday. The company has a market capitalization of $69.23 million, a P/E ratio of -1.25 and a beta of 0.93. Tenax Therapeutics, Inc. has a one year low of $1.31 and a one year high of $19.40. The business’s 50 day simple moving average is $11.75 and its 200-day simple moving average is $12.52.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on TENX shares. Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Roth Capital set a $5.00 price objective on Tenax Therapeutics in a research note on Monday, August 10th. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.
View Our Latest Research Report on Tenax Therapeutics
Hedge Funds Weigh In On Tenax Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of TENX. Virtu Financial LLC acquired a new stake in Tenax Therapeutics in the third quarter valued at approximately $92,000. Letko Brosseau & Associates Inc. acquired a new position in shares of Tenax Therapeutics during the fourth quarter valued at approximately $130,000. Corient Private Wealth LLC acquired a new position in Tenax Therapeutics in the 4th quarter valued at $151,000. Quadrature Capital Ltd purchased a new stake in shares of Tenax Therapeutics during the fourth quarter worth $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tenax Therapeutics in the 4th quarter valued at about $273,000. Hedge funds and other institutional investors 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.
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