Vault-13

TENAX THERAPEUTICS INC TENX

COM NEW · Common Stock · CUSIP 88032L605

27 institutional holders +3 vs Q1 2025
2,231,9722.2m shares reported held*
48.9% of all shares outstanding*
$12.9mreported value*
3 new 6 added 4 reduced 0 sold out net bought ≈ $1.3m (+225.6k shares)

* 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: 4.6m as of 2025-08-11, 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 ≈ $5.79.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q1 24: 10Q2 24: 12Q3 24: 20Q4 24: 22Q1 25: 24Q2 25: 2727Q1 24Q2 24Q3 24Q4 24Q1 25Q2 25
Numbers
QuarterHolders
Q1 202410
Q2 202412
Q3 202420
Q4 202422
Q1 202524
Q2 202527

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q2 24: 6 bought or addedQ2 24: 3 cut or sold outQ2 24Q3 24: 15 bought or addedQ3 24: 5 cut or sold outQ3 24Q4 24: 7 bought or addedQ4 24: 8 cut or sold outQ4 24Q1 25: 9 bought or addedQ1 25: 5 cut or sold outQ1 25Q2 25: 9 bought or addedQ2 25: 4 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q2 202463
Q3 2024155
Q4 202478
Q1 202595
Q2 202594

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +207,088+207.1k
ADAR1 Capital Management, LLC Added +86,816+86.8k
MORGAN STANLEY Added +56,916+56.9k
RAYMOND JAMES FINANCIAL INC New +1,503+1.5k
Tower Research Capital LLC (TRC) Added +1,057+1.1k
GEODE CAPITAL MANAGEMENT, LLC Added +895+895
BANK OF AMERICA CORP /DE/ Added +20+20
BARCLAYS PLC New +11+11
JONES FINANCIAL COMPANIES LLLP New +1+1

Biggest sellers

Venrock Adviser, LLC Reduced -109,769-109.8k
CITADEL ADVISORS LLC Reduced -12,796-12.8k
DIMENSIONAL FUND ADVISORS LP Reduced -3,313-3.3k
UBS Group AG Reduced -2,879-2.9k

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.

HolderStakeChangeShares Last filed
ADAR1 Capital Management, LLC 13G · institution new · filed 2026-09-08 14.0% new 5.3m≈ $76.5m 2026-09-08
BIOTECHNOLOGY VALUE FUND L P 13G · passive investor no change · filed 2026-08-14 10.0% no change 3.1m≈ $45.3m 2026-08-14
JANUS HENDERSON GROUP PLC 13G · institution +6.0 pts · filed 2025-12-08 10.0% +6.0 pts 623.7k≈ $9.1m 2025-12-08
RTW INVESTMENTS, LP 13G · institution no change · filed 2026-08-14 9.9% no change 2.9m≈ $41.7m 2026-08-14
Vestal Point Capital, LP 13G · institution new · filed 2025-11-14 9.9% new 2.5m≈ $35.9m 2025-11-14
Vivo Opportunity Fund Holdings, L.P. 13G · passive investor filed 2026-08-14 9.0% 3.5m≈ $50.3m 2026-08-14
BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 7.5% +1.1 pts 2.8m≈ $40.8m 2026-10-27
SPHERA FUNDS MANAGEMENT LTD. 13G · passive investor +1.8 pts · filed 2026-10-13 7.1% +1.8 pts 2.7m≈ $38.8m 2026-10-13
Adage Capital Management, L.P. 13G · institution filed 2026-08-12 6.8% 1.9m≈ $27.6m 2026-08-12
Dellora Investments LP 13G · passive investor +4.1 pts · filed 2026-10-09 6.4% +4.1 pts 2.4m≈ $34.9m 2026-10-09

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 in Q2 2025

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)

BuyingSelling
202Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 2 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20242—0——
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RTW INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 378,346378.3k $2.2m $2.2m 0.03% Unchanged
2 BVF INC/IL 0.07% of their portfolio San Francisco, CA 339,549339.5k $2.0m $2.0m 0.07% Unchanged
3 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 233,714233.7k $1.4m $1.4m 0.00% Added +207.1k +207,088
4 Vivo Capital, LLC 0.12% of their portfolio Palo Alto, CA 208,333208.3k $1.2m $1.2m 0.12% Unchanged
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 178,010178.0k $1.0m $1.0m 0.00% Added +56.9k +56,916
6 Integral Health Asset Management, LLC 0.09% of their portfolio New York, NY 167,000167.0k $961.9k $961.9k 0.09% Unchanged
7 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 166,666166.7k $978.3k $978.3k 0.00% Unchanged
8 ADAR1 Capital Management, LLC 0.15% of their portfolio AUSTIN, TX 155,557155.6k $896.0k $896.0k 0.15% Added +86.8k +86,816
9 Venrock Adviser, LLC 0.04% of their portfolio NEW YORK, NY 98,56498.6k $567.7k $567.7k 0.04% Reduced -109.8k -109,769
10 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio Boston, MA 83,33383.3k $480.0k $480.0k 0.00% Unchanged
11 Velan Capital Investment Management LP 0.48% of their portfolio ALPHARETTA, GA 83,33383.3k $480.0k $480.0k 0.48% Unchanged
12 Vestal Point Capital, LP 0.02% of their portfolio NEW YORK, NY 53,43953.4k $307.8k $307.8k 0.02% Unchanged
13 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 34,23634.2k $199.9k $199.9k 0.00% Added +895 +895
14 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 22,28722.3k $130.2k $130.2k 0.00% Unchanged
15 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 15,93015.9k $93.0k $93.0k 0.00% Reduced -3.3k -3,313
16 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,34510.3k $60.4k $60.4k 0.00% Reduced -12.8k -12,796
17 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 1,5031.5k $8.7k $8.7k 0.00% New
18 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 1,2491.2k $7.2k $7.2k 0.00% Added +1.1k +1,057
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 300300 $1.7k $1.7k 0.00% Unchanged
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 249249 $1.4k $1.4k 0.00% Added +20 +20
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 1414 $81 $81 0.00% Reduced -2.9k -2,879
22 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1111 $63 $63 0.00% New
23 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 11 $6 $6 0.00% New
24 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 11 $6 $6 0.00% Unchanged
25 Union Bancaire Privee, UBP SA 0.00% of their portfolio GENEVA 1, V8 11 $5 $5 0.00% Unchanged
26 Physician Wealth Advisors, Inc. 0.00% of their portfolio MIDVALE, UT 11 $6 $6 0.00% Unchanged
27 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged