Jacobs Levy Equity Management Inc. Invests $1.60 Million in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 517,426 shares of the company's stock, valued at approximately $1,599,000. Jacobs Levy Equity Management Inc. owned approximately 0.48% of Tango Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TNGX. Dynamic Technology Lab Private Ltd bought a new position in Tango Therapeutics during the fourth quarter valued at approximately $33,000. Ameriprise Financial Inc. purchased a new stake in shares of Tango Therapeutics during the fourth quarter valued at $35,000. Teacher Retirement System of Texas increased its stake in Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after buying an additional 3,831 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Tango Therapeutics during the 4th quarter valued at about $45,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Tango Therapeutics by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after buying an additional 4,813 shares during the period. 78.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $12.33.

Tango Therapeutics Trading Down 9.6%

TNGX stock traded down $0.22 during mid-day trading on Tuesday, reaching $2.07. The company's stock had a trading volume of 15,654,858 shares, compared to its average volume of 1,237,122. The company's 50 day moving average is $1.46 and its two-hundred day moving average is $2.49. Tango Therapeutics, Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $12.02. The stock has a market cap of $224.38 million, a PE ratio of -1.75 and a beta of 1.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The business had revenue of $5.39 million for the quarter, compared to analyst estimates of $6.73 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. On average, analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal 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.