Tango Therapeutics, Inc. (NASDAQ:TNGX) Short Interest Update

Tango Therapeutics, Inc. (NASDAQ:TNGX) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 8,900,000 shares, a decrease of 17.7% from the September 30th total of 10,810,000 shares. Based on an average trading volume of 916,600 shares, the short-interest ratio is presently 9.7 days. Approximately 15.4% of the company’s shares are sold short.

Insider Activity

In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the transaction, the insider now directly owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $9.80, for a total value of $392,000.00. Following the completion of the transaction, the insider now directly owns 17,486,475 shares of the company’s stock, valued at $171,367,455. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the completion of the transaction, the insider now directly owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,925,400 shares of company stock valued at $15,877,582. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $54,000. Paloma Partners Management Co bought a new position in Tango Therapeutics during the first quarter valued at approximately $80,000. Principal Financial Group Inc. bought a new position in Tango Therapeutics during the second quarter valued at approximately $90,000. Quarry LP bought a new position in Tango Therapeutics during the second quarter valued at approximately $99,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TNGX. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Wedbush upped their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Monday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tango Therapeutics has a consensus rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Stock Up 1.4 %

NASDAQ:TNGX opened at $6.00 on Wednesday. The company’s 50 day moving average price is $8.51 and its 200-day moving average price is $8.45. Tango Therapeutics has a 52 week low of $5.62 and a 52 week high of $13.01. The stock has a market cap of $641.08 million, a price-to-earnings ratio of -5.31 and a beta of 0.81.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The firm had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. As a group, sell-side analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current year.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.