Tango Therapeutics, Inc. (NASDAQ:TNGX) Short Interest Up 29.4% in March

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

Insider Activity

In related news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 24,268 shares of company stock valued at $72,561 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in Tango Therapeutics by 26.8% during the third 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 period. Geode Capital Management LLC lifted its holdings in shares of Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after buying an additional 142,710 shares during the period. Barclays PLC raised its position in Tango Therapeutics by 78.3% during the third quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after acquiring an additional 55,470 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Tango Therapeutics in the fourth quarter valued at approximately $218,000. Finally, Swiss National Bank lifted its holdings in Tango Therapeutics by 13.1% in the fourth quarter. Swiss National Bank now owns 94,900 shares of the company’s stock valued at $293,000 after acquiring an additional 11,000 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $1.31 on Tuesday. The company has a market capitalization of $141.62 million, a PE ratio of -1.12 and a beta of 0.87. The company has a 50 day moving average price of $2.34 and a 200-day moving average price of $3.96. Tango Therapeutics has a fifty-two week low of $1.31 and a fifty-two week high of $12.02.

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

About Tango Therapeutics

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.