Tenax Therapeutics
TENX on Nasdaq. Market value $73m.
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Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 111 funds in all.
Jun '25
Dec '25
Jun '26
- Letko BrosseauLetko Brosseau team
- Value
- $154,958
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Letko BrosseauLetko Brosseau team | $154,958 | <0.1% |
Largest holders overall
- FMR$57mAdded
- Vivo Capital$36mAdded
- BlackRock$25mAdded
- Perceptive Advisors$25mAdded
- Vanguard Capital Management$17mAdded
- Millennium Management$13mAdded
- Ikarian Capital$11mCut
- Candriam S.C.A.$11mNew
- Citadel Advisors$11mAdded
- RTW Investments, LP$10mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
21 investors own more than 5%.
- ADAR1 Capital Management, LLCPassive investorat least 14.0%(filed with 1 related holder)Since 31 August 2026
- BVF PARTNERS L P/ILPassive investorat least 10.0%0.0 pts(filed with 9 related holders)Since 30 June 2026
- JANUS HENDERSON GROUP PLCPassive investor10.0%+6.0 ptsSince 28 November 2025
- Roderick Wong, M.D.Passive investor10.0%Since 31 March 2025
- RTW Investments, LPPassive investorat least 9.9%0.0 pts(filed with 1 related holder)Since 30 June 2026
- Vestal Point Capital, LPPassive investorat least 9.9%(filed with 1 related holder)Since 30 September 2024
- Janus Henderson Biotech Innovation Master Fund LtdPassive investor9.9%Since 31 March 2025
- Vivo Opportunity Fund Holdings, L.P.Passive investorat least 9.0%(filed with 1 related holder)Since 30 June 2026
- Adage Capital Management, L.P.Passive investorat least 6.8%(filed with 2 related holders)Since 30 June 2026
- BlackRock, Inc.Passive investor6.4%Since 30 June 2026
- Millennium Management LLCPassive investorat least 5.8%+2.5 pts(filed with 2 related holders)Since 13 August 2026
- Sphera Funds Management Ltd.Passive investorat least 5.3%(filed with 2 related holders)Since 17 August 2026
- Venrock Healthcare Capital Partners III, L.P.Passive investorat least 4.7%−5.2 pts(filed with 6 related holders)Since 30 June 2026
- Perceptive Advisors LLCPassive investorat least 4.5%−1.0 pts(filed with 2 related holders)Since 30 June 2026
- Stonepine Capital Management, LLCPassive investorat least 3.7%(filed with 3 related holders)Since 31 March 2026
- Morgan StanleyPassive investorat least 3.5%−6.1 pts(filed with 1 related holder)Since 31 March 2026
- Point72 Asset Management, L.P.Passive investorat least 3.1%−3.7 pts(filed with 2 related holders)Since 31 March 2026
- Logos Global Management LPPassive investorat least 3.0%−6.9 pts(filed with 4 related holders)Since 31 March 2026
- Ikarian Capital, LLCPassive investorat least 2.9%−3.8 pts(filed with 1 related holder)Since 30 June 2026
- Raymond DebbanePassive investorat least 2.5%−6.9 pts(filed with 7 related holders)Since 31 March 2026
- Dellora Investments LPPassive investorat least 2.3%−4.1 pts(filed with 2 related holders)Since 31 March 2026
- S.H.N. Financial Investments Ltd.Passive investorSold down below 5%Since 31 December 2024
- Christopher Thomas GiordanoInsider or founderSold down below 5%Since 31 July 2026
- T. Rowe Price Associates, Inc.Passive investorSold down below 5%Since 31 May 2026
- Millennium Management LLCPassive investorSold down below 5%Since 31 March 2026
- FMR LLCPassive investorSold down below 5%Since 31 August 2026
- Lind Global Fund II LPPassive investorSold down below 5%Since 31 March 2026
- ING Groep N.V.Passive investorSold down below 5%Since 3 September 2026
| Holder | Stake | Since | |
|---|---|---|---|
ADAR1 Capital Management, LLC Passive investor | at least 14.0% (filed with 1 related holder) | 31 August 2026 | |
BVF PARTNERS L P/IL Passive investor | at least 10.0%0.0 pts (filed with 9 related holders) | 30 June 2026 | |
JANUS HENDERSON GROUP PLC Passive investor | 10.0%+6.0 pts | 28 November 2025 | |
Roderick Wong, M.D. Passive investor | 10.0% | 31 March 2025 | |
RTW Investments, LP Passive investor | at least 9.9%0.0 pts (filed with 1 related holder) | 30 June 2026 | |
Vestal Point Capital, LP Passive investor | at least 9.9% (filed with 1 related holder) | 30 September 2024 | |
Janus Henderson Biotech Innovation Master Fund Ltd Passive investor | 9.9% | 31 March 2025 | |
Vivo Opportunity Fund Holdings, L.P. Passive investor | at least 9.0% (filed with 1 related holder) | 30 June 2026 | |
Adage Capital Management, L.P. Passive investor | at least 6.8% (filed with 2 related holders) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.4% | 30 June 2026 | |
Millennium Management LLC Passive investor | at least 5.8%+2.5 pts (filed with 2 related holders) | 13 August 2026 | |
Sphera Funds Management Ltd. Passive investor | at least 5.3% (filed with 2 related holders) | 17 August 2026 | |
Venrock Healthcare Capital Partners III, L.P. Passive investor | at least 4.7%−5.2 pts (filed with 6 related holders) | 30 June 2026 | |
Perceptive Advisors LLC Passive investor | at least 4.5%−1.0 pts (filed with 2 related holders) | 30 June 2026 | |
Stonepine Capital Management, LLC Passive investor | at least 3.7% (filed with 3 related holders) | 31 March 2026 | |
Morgan Stanley Passive investor | at least 3.5%−6.1 pts (filed with 1 related holder) | 31 March 2026 | |
Point72 Asset Management, L.P. Passive investor | at least 3.1%−3.7 pts (filed with 2 related holders) | 31 March 2026 | |
Logos Global Management LP Passive investor | at least 3.0%−6.9 pts (filed with 4 related holders) | 31 March 2026 | |
Ikarian Capital, LLC Passive investor | at least 2.9%−3.8 pts (filed with 1 related holder) | 30 June 2026 | |
Raymond Debbane Passive investor | at least 2.5%−6.9 pts (filed with 7 related holders) | 31 March 2026 | |
Dellora Investments LP Passive investor | at least 2.3%−4.1 pts (filed with 2 related holders) | 31 March 2026 | |
S.H.N. Financial Investments Ltd. Passive investor | Sold down below 5% | 31 December 2024 | |
Christopher Thomas Giordano Insider or founder | Sold down below 5% | 31 July 2026 | |
T. Rowe Price Associates, Inc. Passive investor | Sold down below 5% | 31 May 2026 | |
Millennium Management LLC Passive investor | Sold down below 5% | 31 March 2026 | |
FMR LLC Passive investor | Sold down below 5% | 31 August 2026 | |
Lind Global Fund II LP Passive investor | Sold down below 5% | 31 March 2026 | |
ING Groep N.V. Passive investor | Sold down below 5% | 3 September 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 6 insiders bought $322,385 of shares on the open market.
Cluster buy3 insiders bought within 30 days (11 September 2026 to 16 September 2026).
- Doogan DeclanDirectorBought
- Date
- 16 September 2026
- Shares
- 53,000
- Price
- $1.92
- Value
- $101,760
- Giordano Christopher ThomasCEO, DirectorBought
- Date
- 15 September 2026
- Shares
- 4,850
- Price
- $1.82
- Value
- $8,837
- Giordano Christopher ThomasCEO, DirectorBought
- Date
- 11 September 2026
- Shares
- 6,000
- Price
- $1.88
- Value
- $11,250
- STAAB THOMAS R IIChief Financial OfficerBought
- Date
- 11 September 2026
- Shares
- 5,675
- Price
- $1.94
- Value
- $10,981
- Rich StuartChief Medical Officer, DirectorBought
- Date
- 9 December 2025
- Shares
- 2,500
- Price
- $10.22
- Value
- $25,550
- Rich StuartChief Medical Officer, DirectorBought
- Date
- 8 December 2025
- Shares
- 2,500
- Price
- $10.10
- Value
- $25,250
- Rich StuartChief Medical Officer, DirectorBought
- Date
- 4 December 2025
- Shares
- 2,500
- Price
- $9.20
- Value
- $23,000
- Rich StuartChief Medical Officer, DirectorBought
- Date
- 3 December 2025
- Shares
- 1,500
- Price
- $9.08
- Value
- $13,620
- Rich StuartChief Medical Officer, DirectorBought
- Date
- 2 December 2025
- Shares
- 1,000
- Price
- $9.01
- Value
- $9,010
- Giordano Christopher ThomasCEO, DirectorBought
- Date
- 20 November 2025
- Shares
- 538
- Price
- $7.59
- Value
- $4,083
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 16 September 2026 | Doogan Declan Director | Bought | 53,000 | $1.92 | $101,760 |
| 15 September 2026 | Giordano Christopher Thomas CEO, Director | Bought | 4,850 | $1.82 | $8,837 |
| 11 September 2026 | Giordano Christopher Thomas CEO, Director | Bought | 6,000 | $1.88 | $11,250 |
| 11 September 2026 | STAAB THOMAS R II Chief Financial Officer | Bought | 5,675 | $1.94 | $10,981 |
| 9 December 2025 | Rich Stuart Chief Medical Officer, Director | Bought | 2,500 | $10.22 | $25,550 |
| 8 December 2025 | Rich Stuart Chief Medical Officer, Director | Bought | 2,500 | $10.10 | $25,250 |
| 4 December 2025 | Rich Stuart Chief Medical Officer, Director | Bought | 2,500 | $9.20 | $23,000 |
| 3 December 2025 | Rich Stuart Chief Medical Officer, Director | Bought | 1,500 | $9.08 | $13,620 |
| 2 December 2025 | Rich Stuart Chief Medical Officer, Director | Bought | 1,000 | $9.01 | $9,010 |
| 20 November 2025 | Giordano Christopher Thomas CEO, Director | Bought | 538 | $7.59 | $4,083 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
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What a finished deep dive looks like
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.