Short Interest in Tango Therapeutics, Inc. (NASDAQ:TNGX) Expands By 29.4%

Tango Therapeutics, Inc. (NASDAQ:TNGX) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 9,110,000 shares, a growth of 29.4% from the February 28th total of 7,040,000 shares. Based on an average trading volume of 873,500 shares, the days-to-cover ratio is currently 10.4 days. Currently, 15.4% of the shares of the stock are short sold.

Insider Activity

In other news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the transaction, the chief executive officer now owns 1,631,264 shares of the company’s stock, valued at $4,877,479.36. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 24,268 shares of company stock worth $72,561 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas grew its stake in Tango Therapeutics by 35.8% during the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company’s stock valued at $45,000 after purchasing an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Tango Therapeutics by 29.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company’s stock worth $65,000 after buying an additional 4,813 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Tango Therapeutics by 24.1% in the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock worth $113,000 after buying an additional 7,128 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Tango Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company’s stock valued at $69,000 after acquiring an additional 7,599 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Tango Therapeutics during the 4th quarter valued at $33,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Trading Down 1.7 %

NASDAQ:TNGX traded down $0.03 on Monday, hitting $1.45. 160,716 shares of the stock were exchanged, compared to its average volume of 1,061,599. The stock has a market cap of $156.22 million, a PE ratio of -1.22 and a beta of 0.87. Tango Therapeutics has a fifty-two week low of $1.35 and a fifty-two week high of $12.02. The stock has a fifty day moving average of $2.37 and a 200-day moving average of $4.02.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The company had revenue of $4.12 million for the quarter, compared to analyst estimates of $7.84 million. As a group, analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.33.

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.