Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 179,058 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $1.80 per share, with a total value of $322,304.40. Following the acquisition, the insider owned 5,436,447 shares in the company, valued at $9,785,604.60. The trade was a 3.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock 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 cost of $1.80 per share, with a total value of $337,867.20.
- On Monday, August 31st, Adar1 Capital Management, Llc bought 403,571 shares of Tenax Therapeutics stock. The shares were purchased at an average price of $1.79 per share, for a total transaction of $722,392.09.
- On Monday, August 24th, Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $187,904.50.
- On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The stock was 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 stock was purchased at an average price of $1.78 per share, with a total value of $359,780.72.
Tenax Therapeutics Price Performance
Shares of TENX opened at $1.85 on Thursday. The company has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.83. The firm has a 50-day moving average of $10.32 and a 200-day moving average of $11.99. Tenax Therapeutics, Inc. has a one year low of $1.31 and a one year high of $19.40.
Institutional Investors Weigh In On Tenax Therapeutics
Hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC grew its position in shares of Tenax Therapeutics by 19.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock valued at $776,000 after purchasing an additional 10,245 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in Tenax Therapeutics during the 4th quarter worth approximately $130,000. Virtu Financial LLC acquired a new stake in Tenax Therapeutics during the 3rd quarter worth approximately $92,000. Corient Private Wealth LLC bought a new stake in Tenax Therapeutics in the 4th quarter valued at $151,000. Finally, Bank of America Corp DE boosted its stake in Tenax Therapeutics by 391.2% in the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. 1.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have issued reports on TENX shares. Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 11th. Roth Capital set a $5.00 target price on Tenax Therapeutics in a research note on Monday, August 10th. Weiss Ratings raised Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Piper Sandler raised their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.00.
View Our Latest Stock Analysis on Tenax Therapeutics
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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