Independent Director of Tenax Therapeutics Declan Doogan Buys 2,331% More Shares
Potential Tenax Therapeutics, Inc. (NASDAQ:TENX) shareholders may wish to note that the Independent Director, Declan Doogan, recently bought US$102k worth of stock, paying US$1.92 for each share. We reckon that's a good sign, especially since the purchase boosted their holding by 2,331%.
The Last 12 Months Of Insider Transactions At Tenax Therapeutics
In fact, the recent purchase by Declan Doogan was the biggest purchase of Tenax Therapeutics shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was higher than US$1.90 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
While Tenax Therapeutics insiders bought shares during the last year, they didn't sell. The average buy price was around US$3.50. I'd consider this a positive as it suggests insiders see value at around the current price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
See our latest analysis for Tenax Therapeutics
There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From what we can see in our data, insiders own only about US$123k worth of Tenax Therapeutics shares. We might be missing something but that seems like very low insider ownership.
What Might The Insider Transactions At Tenax Therapeutics Tell Us?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Tenax Therapeutics insiders are reasonably well aligned, and optimistic for the future. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For instance, we've identified 5 warning signs for Tenax Therapeutics (4 are concerning) you should be aware of.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.