TENAX THERAPEUTICS INC TENX
COM NEW · Common Stock · CUSIP 88032L605
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersChapel Hill, NC
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 37.4m as of 2026-07-28, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $14.55. Options: 14 managers hold calls ($33.3m notional), 7 hold puts ($5.4m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2024 | 10 |
| Q2 2024 | 12 |
| Q3 2024 | 20 |
| Q4 2024 | 22 |
| Q1 2025 | 24 |
| Q2 2025 | 27 |
| Q3 2025 | 34 |
| Q4 2025 | 49 |
| Q1 2026 | 80 |
| Q2 2026 | 111 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 15 | 5 |
| Q4 2024 | 7 | 8 |
| Q1 2025 | 9 | 5 |
| Q2 2025 | 9 | 4 |
| Q3 2025 | 20 | 5 |
| Q4 2025 | 30 | 8 |
| Q1 2026 | 57 | 7 |
| Q2 2026 | 83 | 27 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $0 | $0 | — |
| Q4 2025 | $0 | $0 | — |
| Q1 2026 | $2.4m | $0 | 0.00 |
| Q2 2026 | $33.3m | $5.4m | 0.16 |
Biggest buyers
| FMR LLC | Added | +3.6m |
| Vivo Capital, LLC | Added | +2.3m |
| BlackRock, Inc. | Added | +1.7m |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +883.7k |
| Candriam S.C.A. | New | +749.6k |
| BRAIDWELL LP | New | +584.4k |
| CITADEL ADVISORS LLC | Added | +576.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +570.4k |
| STATE STREET CORP | Added | +481.8k |
| Qube Research & Technologies Ltd | Added | +401.6k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -2.3m |
| Venrock Adviser, LLC | Sold out | -1.7m |
| ARMISTICE CAPITAL, LLC | Sold out | -478.8k |
| GREAT POINT PARTNERS LLC | Sold out | -327.3k |
| TD Asset Management Inc | Reduced | -326.0k |
| Logos Global Management LP | Reduced | -325.0k |
| Stonepine Capital Management, LLC | Reduced | -315.2k |
| UBS Group AG | Reduced | -283.3k |
| STEMPOINT CAPITAL LP | Reduced | -281.1k |
| AMERIPRISE FINANCIAL INC | Sold out | -279.5k |
Biggest calls
| Caption Management, LLC | New | $5.8m399.7k shares |
| Ikarian Capital, LLC | Added | $5.4m373.1k shares |
| DIADEMA PARTNERS LP | New | $4.5m307.0k shares |
| Balyasny Asset Management L.P. | New | $2.8m194.0k shares |
| SIMPLEX TRADING, LLC | New | $2.1m147.5k shares |
| JANE STREET GROUP, LLC | New | $2.0m140.4k shares |
| CITADEL ADVISORS LLC | New | $1.9m130.4k shares |
| SPHERA FUNDS MANAGEMENT LTD. | New | $1.9m127.6k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | $1.6m111.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $1.4m96.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $3.4m235.2k shares |
| Caption Management, LLC | New | $974.9k67.0k shares |
| CITADEL ADVISORS LLC | New | $531.1k36.5k shares |
| Ikarian Capital, LLC | New | $240.1k16.5k shares |
| JANE STREET GROUP, LLC | New | $225.5k15.5k shares |
| SIMPLEX TRADING, LLC | New | $27.6k1.9k shares |
| Rosalind Advisors, Inc. | New | $13.9k6.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| ADAR1 Capital Management, LLC 13G · institution new · filed 2026-09-08 | 14.0% |
| BIOTECHNOLOGY VALUE FUND L P 13G · passive investor no change · filed 2026-08-14 | 10.0% |
| JANUS HENDERSON GROUP PLC 13G · institution +6.0 pts · filed 2025-12-08 | 10.0% |
| RTW INVESTMENTS, LP 13G · institution no change · filed 2026-08-14 | 9.9% |
| Vestal Point Capital, LP 13G · institution new · filed 2025-11-14 | 9.9% |
| Vivo Opportunity Fund Holdings, L.P. 13G · passive investor filed 2026-08-14 | 9.0% |
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 | 7.5% |
| SPHERA FUNDS MANAGEMENT LTD. 13G · passive investor +1.8 pts · filed 2026-10-13 | 7.1% |
| Adage Capital Management, L.P. 13G · institution filed 2026-08-12 | 6.8% |
| Dellora Investments LP 13G · passive investor +4.1 pts · filed 2026-10-09 | 6.4% |
Fell to 5% or below in the last year: MILLENNIUM MANAGEMENT LLC (3.6%, 2026-10-15), ING GROEP NV (0.0%, 2026-09-11), FMR LLC (1.4%, 2026-09-08), PERCEPTIVE ADVISORS LLC (4.5%, 2026-08-14), Venrock Healthcare Capital Partners III, L.P. (4.7%, 2026-08-14), Ikarian Capital, LLC (2.9%, 2026-08-14), Giordano Christopher Thomas (4.3%, 2026-07-31), PRICE T ROWE ASSOCIATES INC /MD/ (2.2%, 2026-06-05), Stonepine Capital Management, LLC (3.7%, 2026-05-15), Point72 Asset Management, L.P. (3.1%, 2026-05-15)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 4 | $189.6k | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 3 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-16 | Doogan Declan Director | Bought | —53.0k shares |
| 2026-09-15 | Giordano Christopher Thomas CEO, director | Bought | —4.8k shares |
| 2026-09-11 | STAAB THOMAS R II Chief Financial Officer | Bought | —5.7k shares |
| 2026-09-11 | Giordano Christopher Thomas CEO, director | Bought | —6.0k shares |
| 2026-09-03 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —900.0k shares |
| 2026-09-02 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —187.7k shares |
| 2026-09-01 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —179.1k shares |
| 2026-08-31 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —403.6k shares |
| 2026-08-24 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —107.4k shares |
| 2026-08-21 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —716.4k shares |
| 2026-08-20 | Schneeberger Daniel +1 10% owner · See Footnote | Bought | —202.1k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.00% of their portfolio | 3.9m $57.4m | Added +3.6m |
| Vivo Capital, LLC 3.32% of their portfolio | 2.5m $36.4m | Added +2.3m |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $25.1m | Added +1.7m |
| PERCEPTIVE ADVISORS LLC 0.38% of their portfolio | 1.7m $24.7m | Added +252.2k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.1m $16.7m | Added +883.7k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 876.2k $12.7m | Added +342.3k |
| Ikarian Capital, LLC 1.88% of their portfolio | 787.6k $11.5m | Reduced -230.0k |
| Candriam S.C.A. 0.05% of their portfolio | 749.6k $10.9m | New |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 728.6k $10.6m | Added +576.0k |
| RTW INVESTMENTS, LP 0.09% of their portfolio | 696.6k $10.1m | Added +326.3k |
| Stonepine Capital Management, LLC 7.31% of their portfolio | 660.0k $9.6m | Reduced -315.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 639.5k $9.3m | Added +570.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 607.7k $8.8m | Reduced -2.3m |
| MARSHALL WACE, LLP 0.01% of their portfolio | 585.6k $8.5m | Added +233.0k |
| BRAIDWELL LP 0.31% of their portfolio | 584.4k $8.5m | New |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 556.8k $8.1m | Added +22.8k |
| Velan Capital Investment Management LP 4.90% of their portfolio | 550.0k $8.0m | Reduced -33.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 540.1k $7.9m | Unchanged |
| Woodline Partners LP 0.02% of their portfolio | 531.3k $7.7m | Added +207.3k |
| STATE STREET CORP 0.00% of their portfolio | 510.8k $7.4m | Added +481.8k |
| Sofinnova Investments, Inc. 0.39% of their portfolio | 500.0k $7.3m | Added +395.6k |
| Jupiter Topco LLC 0.00% of their portfolio | 451.2k $6.6m | First filing |
| MORGAN STANLEY 0.00% of their portfolio | 432.2k $6.3m | Reduced -164.3k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 429.9k $6.3m | Added +401.6k |
| Siren, L.L.C. 0.13% of their portfolio | 427.1k $6.2m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 353.4k $5.1m | Added +284.8k |
| BVF INC/IL 0.13% of their portfolio | 339.5k $4.9m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 325.3k $4.7m | New |
| Trexquant Investment LP 0.03% of their portfolio | 321.6k $4.7m | Added +270.9k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.08% of their portfolio | 311.1k $4.5m | Reduced -55.7k |
| Logos Global Management LP 0.19% of their portfolio | 300.0k $4.4m | Reduced -325.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 289.2k $4.2m | Added +260.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 274.9k $4.0m | Added +243.1k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 266.7k $3.9m | Added +233.0k |
| Avidity Partners Management LP 0.62% of their portfolio | 265.9k $3.9m | Reduced -215.9k |
| Caption Management, LLC 0.13% of their portfolio | 255.0k $3.7m | New |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 253.5k $3.7m | Added +190.7k |
| ADAR1 Capital Management, LLC 0.15% of their portfolio | 220.5k $3.2m | Added +7.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 199.1k $2.9m | Added +187.1k |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 184.5k $2.7m | Added +64.0k |
| Ensign Peak Advisors, Inc 0.00% of their portfolio | 176.9k $2.6m | New |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 168.8k $2.5m | New |
| Integral Health Asset Management, LLC 0.10% of their portfolio | 167.0k $2.4m | Unchanged |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 164.0k $2.4m | Added +11.4k |
| Nuveen, LLC 0.00% of their portfolio | 161.2k $2.3m | New |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 157.0k $2.3m | Added +123.6k |
| PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio | 156.1k $2.3m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 136.4k $2.0m | Added +117.9k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.12% of their portfolio | 132.3k $1.9m | New |
| Verdad Advisers, LP 1.72% of their portfolio | 123.2k $1.8m | Added +27.8k |
| SPHERA FUNDS MANAGEMENT LTD. 0.25% of their portfolio | 120.2k $1.7m | Reduced -15.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 117.5k $1.7m | New |
| XTX Topco Ltd 0.02% of their portfolio | 113.8k $1.7m | Added +65.9k |
| Walleye Capital LLC 0.01% of their portfolio | 105.2k $1.5m | New |
| UBS Group AG 0.00% of their portfolio | 98.1k $1.4m | Reduced -283.3k |
| STEMPOINT CAPITAL LP 0.24% of their portfolio | 96.3k $1.4m | Reduced -281.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 95.5k $1.4m | New |
| Creek Drive Management Group LLC 0.67% of their portfolio | 74.0k $1.1m | Added +29.0k |
| TD Asset Management Inc 0.00% of their portfolio | 73.1k $1.1m | Reduced -326.0k |
| FRED ALGER MANAGEMENT, LLC 0.00% of their portfolio | 72.0k $1.0m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 61.2k $890.1k | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 59.9k $871.5k | Added +15.0k |
| Vestal Point Capital, LP 0.02% of their portfolio | 53.4k $777.5k | Unchanged |
| Man Group plc 0.00% of their portfolio | 49.0k $713.6k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 47.8k $696.0k | Added +17.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 47.2k $687.5k | Added +15.9k |
| Artia Global Partners LP 0.12% of their portfolio | 42.1k $612.3k | Unchanged |
| Quinn Opportunity Partners LLC 0.03% of their portfolio | 40.0k $582.0k | New |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 35.3k $513.1k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 33.3k $485.0k | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 31.3k $455.3k | New |
| ALPS ADVISORS INC 0.00% of their portfolio | 26.9k $391.7k | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 24.6k $357.3k | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 21.1k $306.8k | New |
| SummitTX Capital, L.P. 0.01% of their portfolio | 20.0k $290.9k | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 19.9k $289.5k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 14.9k $217.4k | New |
| Verition Fund Management LLC 0.00% of their portfolio | 13.6k $197.7k | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 13.1k $190.5k | New |
| Corient Private Wealth LP 0.00% of their portfolio | 12.4k $180.2k | Unchanged |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 12.1k $176.2k | Added +8.8k |
| CITIGROUP INC 0.00% of their portfolio | 11.6k $169.1k | Added +11.6k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 11.5k $168.0k | New |
| Quantbot Technologies LP 0.01% of their portfolio | 10.7k $156.2k | New |
| LETKO, BROSSEAU & ASSOCIATES INC 0.00% of their portfolio | 10.7k $155.0k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 10.5k $141.9k | Added +1.1k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 10.1k $147.1k | New |
| DIVERSIFIED TRUST CO 0.00% of their portfolio | 10.0k $145.8k | New |
| K2 PRINCIPAL FUND, L.P. 0.01% of their portfolio | 10.0k $145.5k | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 8.8k $128.0k | New |
| BARCLAYS PLC 0.00% of their portfolio | 8.1k $117.2k | Reduced -8.6k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 7.4k $108.0k | New |
| STRS OHIO 0.00% of their portfolio | 4.9k $71.3k | New |
| China Universal Asset Management Co., Ltd. 0.00% of their portfolio | 3.6k $52.4k | New |
| Legal & General Group Plc 0.00% of their portfolio | 2.4k $35.5k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 2.3k $33.6k | Added +1.2k |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 2.3k $33.2k | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 2.1k $29.8k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 776 $11.0k | Added +772 |
| Sterling Capital Management LLC 0.00% of their portfolio | 507 $7.4k | New |