Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Buys $551,085.14 in Stock

by · The Cerbat Gem

Tenax Therapeutics, Inc. (NASDAQ:TENX – Get Free Report) major shareholder Adar1 Capital Management, Llc bought 331,979 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were acquired at an average price of $1.66 per share, for a total transaction of $551,085.14. Following the transaction, the insider directly owned 7,447,000 shares in the company, valued at approximately $12,362,020. This represents a 4.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Tuesday, October 20th, Adar1 Capital Management, Llc bought 254,342 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $406,947.20.
  • On Monday, October 19th, Adar1 Capital Management, Llc acquired 336,528 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.51 per share, with a total value of $508,157.28.
  • On Thursday, September 3rd, Adar1 Capital Management, Llc bought 900,000 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.78 per share, for a total transaction of $1,602,000.00.
  • On Wednesday, September 2nd, Adar1 Capital Management, Llc acquired 187,704 shares of Tenax Therapeutics stock. The stock was purchased at an average price of $1.80 per share, for a total transaction of $337,867.20.
  • On Tuesday, September 1st, Adar1 Capital Management, Llc acquired 179,058 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.80 per share, for a total transaction of $322,304.40.
  • On Monday, August 31st, Adar1 Capital Management, Llc bought 403,571 shares of Tenax Therapeutics stock. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $722,392.09.
  • On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The stock was purchased at an average cost of $1.75 per share, with a total value of $187,904.50.
  • On Friday, August 21st, Adar1 Capital Management, Llc purchased 716,369 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.77 per share, with a total value of $1,267,973.13.
  • On Thursday, August 20th, Adar1 Capital Management, Llc acquired 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 Stock Down 2.3%

Shares of NASDAQ TENX opened at $1.72 on Friday. The firm has a 50-day moving average price of $1.85 and a 200 day moving average price of $9.01. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40. The stock has a market capitalization of $64.36 million, a price-to-earnings ratio of -1.16 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX – Get Free Report) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. Equities research analysts expect that Tenax Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TENX. Evercore downgraded 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. Leerink Partners set a $4.00 price target on shares of Tenax Therapeutics in a report on Tuesday, August 11th. Chardan Capital downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Tuesday, August 11th. Guggenheim cut Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 31st. Finally, Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tenax Therapeutics presently has an average rating of “Hold” and a consensus price target of $14.00.

View Our Latest Analysis on TENX

Institutional Investors Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of TENX. State of Alaska Department of Revenue bought a new stake in shares of Tenax Therapeutics in the third quarter valued at approximately $94,000. Squarepoint Ops LLC bought a new position in Tenax Therapeutics in the second quarter valued at approximately $485,000. Braidwell LP bought a new stake in Tenax Therapeutics during the 2nd quarter worth about $8,503,000. Wellington Management Group LLP bought a new position in shares of Tenax Therapeutics in the 2nd quarter valued at about $1,390,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Tenax Therapeutics during the 2nd quarter worth about $4,733,000. 1.67% of the stock is currently owned by institutional investors.

Tenax Therapeutics Company Profile

(Get Free Report)

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company’s research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax’s primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.

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