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: 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
Numbers
| Quarter | Holders |
|---|---|
| Q1 2024 | 10 |
| Q2 2024 | 12 |
| Q3 2024 | 20 |
| Q4 2024 | 22 |
| Q1 2025 | 24 |
| Q2 2025 | 27 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 6 | 3 |
| Q3 2024 | 15 | 5 |
| Q4 2024 | 7 | 8 |
| Q1 2025 | 9 | 5 |
| Q2 2025 | 9 | 4 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | Added | +207.1k |
| ADAR1 Capital Management, LLC | Added | +86.8k |
| MORGAN STANLEY | Added | +56.9k |
| RAYMOND JAMES FINANCIAL INC | New | +1.5k |
| Tower Research Capital LLC (TRC) | Added | +1.1k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +895 |
| BANK OF AMERICA CORP /DE/ | Added | +20 |
| BARCLAYS PLC | New | +11 |
| JONES FINANCIAL COMPANIES LLLP | New | +1 |
Biggest sellers
| Venrock Adviser, LLC | Reduced | -109.8k |
| CITADEL ADVISORS LLC | Reduced | -12.8k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -3.3k |
| UBS Group AG | Reduced | -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.
| 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 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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 2 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| RTW INVESTMENTS, LP 0.03% of their portfolio | 378.3k $2.2m | Unchanged |
| BVF INC/IL 0.07% of their portfolio | 339.5k $2.0m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 233.7k $1.4m | Added +207.1k |
| Vivo Capital, LLC 0.12% of their portfolio | 208.3k $1.2m | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 178.0k $1.0m | Added +56.9k |
| Integral Health Asset Management, LLC 0.09% of their portfolio | 167.0k $961.9k | Unchanged |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 166.7k $978.3k | Unchanged |
| ADAR1 Capital Management, LLC 0.15% of their portfolio | 155.6k $896.0k | Added +86.8k |
| Venrock Adviser, LLC 0.04% of their portfolio | 98.6k $567.7k | Reduced -109.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 83.3k $480.0k | Unchanged |
| Velan Capital Investment Management LP 0.48% of their portfolio | 83.3k $480.0k | Unchanged |
| Vestal Point Capital, LP 0.02% of their portfolio | 53.4k $307.8k | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 34.2k $199.9k | Added +895 |
| VANGUARD GROUP INC 0.00% of their portfolio | 22.3k $130.2k | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 15.9k $93.0k | Reduced -3.3k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 10.3k $60.4k | Reduced -12.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 1.5k $8.7k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 1.2k $7.2k | Added +1.1k |
| BlackRock, Inc. 0.00% of their portfolio | 300 $1.7k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 249 $1.4k | Added +20 |
| UBS Group AG 0.00% of their portfolio | 14 $81 | Reduced -2.9k |
| BARCLAYS PLC 0.00% of their portfolio | 11 $63 | New |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 1 $6 | New |
| Allworth Financial LP 0.00% of their portfolio | 1 $6 | Unchanged |
| Union Bancaire Privee, UBP SA 0.00% of their portfolio | 1 $5 | Unchanged |
| Physician Wealth Advisors, Inc. 0.00% of their portfolio | 1 $6 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio | 0 $0 | Unchanged |