Tenon Medical 10% owner HRT Financial LP made a series of open-market purchases totaling ~$390K over Sep 3-10, 2026, at prices ranging from $2.92 to $4.92. This conviction buying comes just 11 days after the company raised ~$3M in a dilutive private placement at $5.02 per share, signaling insider confidence despite acute cash needs and a $5M market cap. The purchases represent ~7.8% of market cap, a highly material signal that partially offsets the bearish overhang from the recent capital raise.
Price Chart
Executive Summary
Tenon Medical 10% owner HRT Financial LP made a series of open-market purchases totaling ~$390K over Sep 3-10, 2026, at prices ranging from $2.92 to $4.92. This conviction buying comes just 11 days after the company raised ~$3M in a dilutive private placement at $5.02 per share, signaling insider confidence despite acute cash needs and a $5M market cap. The purchases represent ~7.8% of market cap, a highly material signal that partially offsets the bearish overhang from the recent capital raise.
Key Financial Metrics
Key Facts
- 10% owner HRT Financial LP purchased ~$390K of TNON shares on the open market over Sep 3-10, 2026
- Purchases occurred at prices between $2.92 and $4.92 per share
- Total insider buying represents ~7.8% of TNON's $5M market cap
- This follows a dilutive $3M private placement on Aug 31, 2026 at $5.02/share
- CFO Kevin Williamson had only non-cash derivative exercises and tax withholding during the same window
Financial Impact
Insider purchases of ~$390K represent ~7.8% of market cap, a highly material signal
Risk Factors
- Company has going-concern status and acute cash needs
- Recent $3M private placement at $5.02/share is highly dilutive to existing shareholders
- Insider buying by a single 10% owner may not reflect broader management confidence (CFO had no open-market activity)
- Micro-cap stock with $5M market cap is highly volatile and illiquid
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| INSIDER-BUY Data (Synthetic) | 0001475597-26-000240 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 8-K | $2.25 | awaiting T+20 | — | $2.12 (−5.78%) |
Oct 16, 2026 9d ago | 424B5 | $2.45 | awaiting T+20 | — | $2.12 (+13.47%) |
Oct 13, 2026 13d ago | EFFECT | $2.89 | awaiting T+20 | — | $2.12 (+26.64%) |
Oct 9, 2026 16d ago | 3 | $2.98 | awaiting T+20 | — | $2.12 (−28.86%) |
Sep 16, 2026 5w ago | 8-K | $4.20 $2.91 | ▲ +30.71% | ▲ +31.92% | $2.12 (+49.52%) |
Sep 11, 2026 6w ago | Insider Buy | $5.93 $3.41 | ▼ −42.50% | ▼ −44.36% | $2.12 (−64.25%) |
Sep 9, 2026 6w ago | 8-K | $2.44 $3.50 | ▲ +43.44% | ▲ +41.50% | $2.12 (−13.11%) |
Sep 1, 2026 7w ago | Insider Buy | $4.47 $4.04 | ▲ +9.62% | ▲ +9.71% | $2.12 (+52.57%) |
Aug 31, 2026 7w ago | 8-K | $4.53 $2.73 | ▲ +39.74% | ▲ +39.55% | $2.12 (+53.20%) |
Aug 31, 2026 7w ago | 3 | $4.53 $2.73 | ▼ −39.74% | ▼ −39.55% | $2.12 (−53.20%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers