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Tenax Therapeutics, Inc. Stock: price and insider trades · United States
4 insiders bought €5.5M of shares over the last 90 days, the latest by ADAR1 Capital Management, LLC, filed 21 Oct 2026.
Tenax Therapeutics, Inc.: what insiders have been doing
Tenax Therapeutics, Inc. is a Healthcare & Pharma company. Its directors and officers file their transactions with SEC (Form 4). 7 insiders have disclosed 30 filings since 22 October 2025.
Not one open-market sale was filed. On the buying side, 7 insiders reported 27 purchases totalling €5.7M. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. Among those who bought: 3 senior executives, 2 finance chiefs and 1 major shareholder. The largest single trade was a purchase of €1.4M by ADAR1 Capital Management, LLC, published on 8 September 2026, equal to 2.7% of the market capitalisation.
In the case of 17 purchases, another manager of the company was buying within the same 30 days. A cluster is several different insiders buying the same stock within a short window, a pattern studied more closely than a single purchase. The most recent open-market purchase was published on 21 October 2026, 3 days ago. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. US insiders must file a Form 4 within two business days of a trade.
Compared with its exchange (3,171 companies, median 24 filings), a count of 30 filings is above the norm. Looking back to 2016, when coverage begins, insiders filed 62 purchases and 1 sale. On the fundamentals side, the SEC filing (10-K) for the period ending 31 December 2025 lists net income at -52.6 m USD.
This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
96
Thresholds
n/a
Buy Volume
€6M
62 ops. · all time
Sell Volume
€4,330
1 ops. · all time
Who traded when
BuySaleADAR1 Capital Management, LLC10 buys
Christopher Thomas Giordano5 buys
Stuart Rich5 buys
Thomas Mcgauley3 buys
June Sherie Almenoff2 buys
Declan Doogan1 buy
+1 other insider
Since the insiders bought
- -28.4%Entry US$1.90 · Close 16 Oct 2026 US$1.36
- -25.3%Entry US$1.82 · Close 16 Oct 2026 US$1.36
- -25.3%Entry US$1.82 · Close 16 Oct 2026 US$1.36
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Tenax Therapeutics, Inc. Buy (bullish), based on 9 analysts. Average price target: US$12.56.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended December 2025 · cache
US$1.52
Analyst consensus
9 analystsBuy
US$4.00Target US$12.56(+726%)US$36.00
Income statement
EBITDA-US$52.6M
Net income-US$52.6M0.0% margin
Valuation
PER (forward)-1.0x
P/Book0.7x
Beta0.92
Balance sheet & cash
Market capUS$56.9M
Total debtUS$501k
Free Cash Flow-US$35.8M
Profitability & ownership
ROE-59.8%
ROA-37.7%
% insiders0.2%
% institutions113.0%
Last declaration on 21 October 2026
Declarations96 total
336,528 shares@ US$1.50660.89% mcap8.3% of flowCommon StockSEC:0001940272-26-000027:0
Canonical exit: 17 Jan 2027 (T+90)
254,342 shares@ US$1.59520.71% mcap6.7% of flowCommon StockSEC:0001940272-26-000027:1
Canonical exit: 18 Jan 2027 (T+90)
331,979 shares@ US$1.65880.97% mcap9.0% of flowCommon StockSEC:0001940272-26-000027:2
Canonical exit: 19 Jan 2027 (T+90)
53,000 shares@ US$1.920.19% mcap100.0% of flowCommon StockSEC:0001193125-26-394831:0
Canonical exit: 15 Dec 2026 (T+90)
6,000 shares@ US$1.8750.019% mcap13.2% of flowCommon StockSEC:0001871714-26-000002:0
Canonical exit: 10 Dec 2026 (T+90)
4,850 shares@ US$1.82210.015% mcap10.5% of flowCommon StockSEC:0001871714-26-000002:1
Canonical exit: 14 Dec 2026 (T+90)
5,675 shares@ US$1.9350.019% mcap100.0% of flowCommon StockSEC:0001193125-26-392319:0
Canonical exit: 10 Dec 2026 (T+90)
900,000 shares@ US$1.78242.73% mcap25.5% of flowCommon StockSEC:0001940272-26-000020:0
Canonical exit: 2 Dec 2026 (T+90)
403,571 shares@ US$1.79051.00% mcap15.1% of flowCommon StockSEC:0001940272-26-000019:0
Canonical exit: 29 Nov 2026 (T+90)
179,058 shares@ US$1.79590.45% mcap6.7% of flowCommon StockSEC:0001940272-26-000019:1
Canonical exit: 30 Nov 2026 (T+90)
187,704 shares@ US$1.79850.47% mcap7.1% of flowCommon StockSEC:0001940272-26-000019:2
Canonical exit: 1 Dec 2026 (T+90)
716,369 shares@ US$1.76761.74% mcap26.2% of flowCommon StockSEC:0001940272-26-000017:1
Canonical exit: 19 Nov 2026 (T+90)
107,374 shares@ US$1.75420.26% mcap3.9% of flowCommon StockSEC:0001940272-26-000017:2
Canonical exit: 22 Nov 2026 (T+90)
202,124 shares@ US$1.77880.50% mcap7.5% of flowCommon StockSEC:0001940272-26-000017:0
Canonical exit: 18 Nov 2026 (T+90)
219 shares@ US$3.5490.0011% mcap0.9% of flowCommon StockSEC:0001193125-26-303600:0
8,500 shares@ US$5.940.071% mcap60.6% of flowCommon StockSEC:0001193125-26-303600:1
10,000 shares0Common StockSEC:0001193125-26-221926:0
2,500 shares@ US$10.2226.5% of flowCommon StockSEC:0001841785-25-000004:1
Canonical exit: 9 Mar 2026 (T+90)
2,500 shares@ US$10.100273.7% of flowCommon StockSEC:0001841785-25-000004:0
Canonical exit: 8 Mar 2026 (T+90)
1,500 shares@ US$9.0814.1% of flowCommon StockSEC:0001841785-25-000003:1
Canonical exit: 3 Mar 2026 (T+90)
2,500 shares@ US$9.2023.8% of flowCommon StockSEC:0001841785-25-000003:2
Canonical exit: 4 Mar 2026 (T+90)
1,000 shares@ US$9.005926.3% of flowCommon StockSEC:0001841785-25-000003:0
Canonical exit: 2 Mar 2026 (T+90)
455 shares@ US$7.513.7% of flowCommon StockSEC:0001871714-25-000002:1
Canonical exit: 17 Feb 2026 (T+90)
538 shares@ US$7.594.4% of flowCommon StockSEC:0001871714-25-000002:2
Canonical exit: 18 Feb 2026 (T+90)
1,612 shares@ US$7.754614.8% of flowCommon StockSEC:0001871714-25-000002:0
Canonical exit: 16 Feb 2026 (T+90)
25 of 96 declarations
About Tenax Therapeutics, Inc.
Tenax Therapeutics, Inc. is a U.S.-based biopharmaceutical development company listed on the Nasdaq under the ticker TENX. Its business is centered on discovering, developing, and ultimately commercializing cardiovascular and pulmonary therapies for diseases with significant unmet medical need. For French-speaking investors, Tenax should be viewed as a specialty biotech name rather than a mature pharmaceutical company: it is largely a clinical-stage story, with valuation driven primarily by trial execution, regulatory milestones, and funding capacity rather than current product revenue.
The company has undergone a long corporate evolution. Tenax traces its origins back to 1967, when it was originally formed in New Jersey under a different corporate identity. Over time, it changed name and structure before adopting the Tenax Therapeutics name in 2014. This history matters because it shows that the company is not a traditional established pharma platform, but rather a business that has been reshaped around cardiopulmonary drug development. Today, the operational headquarters is in Chapel Hill, North Carolina, United States, and the company has indicated that much of its workforce operates remotely.
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Tenax’s core strategy is built around levosimendan-based programs. The company highlights an oral formulation intended to maintain therapeutic levosimendan levels over time, as well as an intravenous levosimendan program being studied in pulmonary hypertension associated with heart failure with preserved ejection fraction, or PH-HFpEF. Historically, Tenax has also worked on a reformulated imatinib program for pulmonary arterial hypertension. Taken together, these assets position the company as a highly focused developer in severe cardiopulmonary diseases where treatment options remain limited and clinical differentiation can be meaningful.
From a competitive standpoint, Tenax operates in a field dominated by large multinational drugmakers and by other specialty biotech companies focused on heart failure, pulmonary hypertension, and adjacent cardiology indications. Its competitive edge is therefore not scale, but rather scientific specialization, concentrated clinical expertise, and the potential to advance differentiated late-stage assets. Recent company communications show that management is prioritizing the LEVEL phase 3 program, with enrollment milestones and topline data expected in 2026, alongside the initiation of a second phase 3 study, LEVEL-2. In March 2026, Tenax reported that it had reached its target randomization of 230 patients in LEVEL, with topline results expected in the third quarter of 2026.
Geographically, Tenax is primarily a United States company, and its clinical development activities are organized through investigator sites in the U.S. and, depending on the protocol, other regions. For investors, this remains a classic small-cap biotech profile: potentially high upside if clinical data are supportive, but also meaningful execution, financing, and binary-event risk. Given the company’s Nasdaq listing in the United States, insider Form 4 filings and capital-markets updates are especially relevant indicators to monitor.
