Tenax rises on over $1.8M insider buying

Tenax Therapeutics (TENX) shares rose nearly 13% in premarket trading after Adar1 Capital Management, a key shareholder holding over 10%, purchased more than $1.8 million worth of stock. The investment manager bought over 1 million shares at an average price of $1.77, increasing its stake by roughly 27%. This purchase follows a recent setback where Tenax lost nearly 90% of its value due to trial issues with its lead asset, TNX-103. Despite this, Wall Street analysts remain bullish, maintaining seven Buy ratings.