Balyasny Asset Management L.P. Grows Stock Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Balyasny Asset Management L.P. raised its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,279,196 shares of the company's stock after buying an additional 592,000 shares during the period. Balyasny Asset Management L.P. owned about 3.05% of Tango Therapeutics worth $10,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TNGX. Dynamic Technology Lab Private Ltd purchased a new position in Tango Therapeutics in the fourth quarter worth $33,000. Ameriprise Financial Inc. bought a new stake in Tango Therapeutics during the fourth quarter worth about $35,000. Teacher Retirement System of Texas boosted its holdings in shares of 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 purchasing an additional 3,831 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $45,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Tango Therapeutics by 29.7% during 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 in the last quarter. Institutional investors own 78.99% of the company's stock.

Tango Therapeutics Trading Up 1.8 %

NASDAQ TNGX traded up $0.02 during trading on Friday, hitting $1.12. The company had a trading volume of 467,242 shares, compared to its average volume of 1,079,341. The company's fifty day moving average is $1.51 and its 200-day moving average is $2.69. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $12.02. The company has a market cap of $121.08 million, a price-to-earnings ratio of -0.95 and a beta of 1.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.03). The company had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. As a group, equities analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Monday, April 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Tango Therapeutics presently has an average rating of "Buy" and an average price target of $12.33.

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.