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

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

Insider Buying and Selling

In other news, Director Mace Rothenberg acquired 10,000 shares of Tango Therapeutics stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.78 per share, with a total value of $37,800.00. Following the transaction, the director now directly owns 31,250 shares of the company’s stock, valued at $118,125. This trade represents a 47.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barbara Weber sold 9,778 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,268 shares of company stock valued at $72,561 in the last ninety days. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. Dynamic Technology Lab Private Ltd bought a new position in shares of Tango Therapeutics during the fourth quarter valued at approximately $33,000. Sequoia Financial Advisors LLC bought a new position in shares of Tango Therapeutics during the fourth quarter valued at approximately $45,000. Teacher Retirement System of Texas boosted its stake in shares of Tango Therapeutics by 35.8% during the fourth 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 boosted its stake in Tango Therapeutics by 29.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company’s stock valued at $65,000 after acquiring an additional 4,813 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Tango Therapeutics in the fourth quarter valued at approximately $66,000. 78.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Tango Therapeutics Stock Down 1.6 %

Shares of NASDAQ TNGX traded down $0.04 during midday trading on Friday, reaching $2.47. 662,405 shares of the company’s stock traded hands, compared to its average volume of 602,954. The stock’s 50 day simple moving average is $3.01 and its 200-day simple moving average is $5.85. Tango Therapeutics has a one year low of $2.41 and a one year high of $12.10. The company has a market cap of $265.33 million, a price-to-earnings ratio of -2.09 and a beta of 0.80.

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.