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

Tango Therapeutics, Inc. (NASDAQ:TNGX) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 5,440,000 shares, a decline of 22.5% from the January 15th total of 7,020,000 shares. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is presently 3.2 days. Approximately 11.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms have recently commented on TNGX. Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. B. Riley reduced their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.33.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the completion of the sale, the chief executive officer now directly owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mace Rothenberg acquired 10,000 shares of Tango Therapeutics stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $3.78 per share, with a total value of $37,800.00. Following the completion of the purchase, the director now directly owns 31,250 shares in the company, valued at $118,125. This represents a 47.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 24,268 shares of company stock worth $72,561. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. TCG Crossover Management LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $33,174,000. Boxer Capital Management LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $32,077,000. Gilead Sciences Inc. bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $15,000,000. Nantahala Capital Management LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $8,666,000. Finally, State Street Corp boosted its holdings in shares of Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after purchasing an additional 489,949 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Trading Down 1.6 %

Tango Therapeutics stock traded down $0.04 during mid-day trading on Friday, hitting $2.47. The stock had a trading volume of 662,405 shares, compared to its average volume of 602,954. The firm has a market capitalization of $265.33 million, a P/E ratio of -2.09 and a beta of 0.80. The firm’s 50 day moving average is $3.01 and its 200 day moving average is $5.85. Tango Therapeutics has a one year low of $2.41 and a one year high of $12.10.

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.