Short Interest in Tango Therapeutics, Inc. (NASDAQ:TNGX) Decreases By 22.5%

Tango Therapeutics, Inc. (NASDAQ:TNGX) saw a significant decline in short interest in 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. Approximately 11.0% of the company’s stock are sold short. Based on an average trading volume of 1,720,000 shares, the short-interest ratio is currently 3.2 days.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $2.51 on Friday. The stock has a 50 day moving average price of $3.03 and a 200 day moving average price of $5.88. The stock has a market capitalization of $269.62 million, a price-to-earnings ratio of -2.13 and a beta of 0.80. Tango Therapeutics has a one year low of $2.41 and a one year high of $12.10.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Friday, November 8th. B. Riley dropped their price objective on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.33.

Insider Transactions at Tango Therapeutics

In other news, Director Mace Rothenberg bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $3.78 per share, with a total value of $37,800.00. Following the acquisition, the director now owns 31,250 shares of the company’s stock, valued at approximately $118,125. The trade was a 47.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Weber sold 9,778 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,631,264 shares in the company, valued at $4,877,479.36. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,268 shares of company stock valued at $72,561 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its stake in Tango Therapeutics by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after acquiring an additional 2,218 shares in the last quarter. SG Americas Securities LLC purchased a new position in Tango Therapeutics during the 3rd quarter worth approximately $151,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Tango Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $159,000 after purchasing an additional 8,055 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Tango Therapeutics in the third quarter valued at approximately $349,000. Finally, Quest Partners LLC boosted its stake in shares of Tango Therapeutics by 1,448.4% in the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after buying an additional 10,182 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

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.