Boxer Capital Management LLC Invests $32.08 Million in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Boxer Capital Management LLC bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,380,999 shares of the company's stock, valued at approximately $32,077,000. Tango Therapeutics makes up about 2.7% of Boxer Capital Management LLC's holdings, making the stock its 9th largest position. Boxer Capital Management LLC owned about 9.66% of Tango Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC grew its position in shares of Tango Therapeutics by 78.3% in the third quarter. Barclays PLC now owns 126,281 shares of the company's stock valued at $972,000 after purchasing an additional 55,470 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in Tango Therapeutics in the 4th quarter valued at approximately $82,000. Congress Asset Management Co. raised its position in Tango Therapeutics by 9.0% in the fourth quarter. Congress Asset Management Co. now owns 227,989 shares of the company's stock valued at $704,000 after purchasing an additional 18,919 shares during the period. Los Angeles Capital Management LLC acquired a new position in Tango Therapeutics during the fourth quarter worth $218,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tango Therapeutics by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company's stock worth $1,586,000 after buying an additional 26,192 shares during the period. Institutional investors and hedge funds own 78.99% of the company's stock.

Tango Therapeutics Trading Down 4.4 %

NASDAQ:TNGX traded down $0.06 during midday trading on Wednesday, reaching $1.21. The company had a trading volume of 123,849 shares, compared to its average volume of 1,075,568. The stock's fifty day simple moving average is $1.56 and its 200-day simple moving average is $2.80. Tango Therapeutics, Inc. has a 12-month low of $1.11 and a 12-month high of $12.02. The firm has a market capitalization of $130.27 million, a price-to-earnings ratio of -1.02 and a beta of 1.02.

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

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.33.

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.