Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report) major shareholder Adar1 Capital Management, Llc purchased 107,374 shares of Tenax Therapeutics stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $1.75 per share, for a total transaction of $187,904.50. Following the transaction, the insider owned 4,853,818 shares in the company, valued at $8,494,181.50. This represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Friday, August 21st, Adar1 Capital Management, Llc acquired 716,369 shares of Tenax Therapeutics stock. The stock was bought 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 bought 202,124 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.78 per share, with a total value of $359,780.72.
Tenax Therapeutics Stock Performance
Shares of NASDAQ TENX traded up $0.10 during trading on Monday, reaching $1.85. The company had a trading volume of 4,329,075 shares, compared to its average volume of 1,785,332. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40. The business’s 50 day moving average price is $11.95 and its 200-day moving average price is $12.60. The stock has a market cap of $69.23 million, a PE ratio of -1.25 and a beta of 0.93.
Analysts Set New Price Targets
TENX has been the topic of a number of recent research reports. Piper Sandler increased their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Leerink Partners set a $4.00 price target on Tenax Therapeutics in a research note on Tuesday, August 11th. Chardan Capital cut Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Tuesday, August 11th. Roth Capital set a $5.00 price objective on Tenax Therapeutics in a research report on Monday, August 10th. Finally, Guggenheim set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.
Read Our Latest Report on TENX
Institutional Trading of Tenax Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in TENX. Braidwell LP bought a new position in shares of Tenax Therapeutics in the 2nd quarter worth $8,503,000. Wellington Management Group LLP acquired a new stake in shares of Tenax Therapeutics in the 2nd quarter valued at approximately $1,390,000. Bank of New York Mellon Corp acquired a new stake in shares of Tenax Therapeutics in the 2nd quarter valued at approximately $4,733,000. Perceptive Advisors LLC boosted its stake in Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after acquiring an additional 1,008,640 shares during the last quarter. Finally, Avidity Partners Management LP acquired a new stake in Tenax Therapeutics in the first quarter worth $3,453,000. 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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