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

Boxer Capital Management LLC purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,380,999 shares of the company's stock, valued at approximately $32,077,000. Tango Therapeutics makes up 2.7% of Boxer Capital Management LLC's portfolio, making the stock its 9th biggest position. Boxer Capital Management LLC owned 9.66% of Tango Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TNGX. Jane Street Group LLC lifted its stake in shares of Tango Therapeutics by 87.6% in the 4th quarter. Jane Street Group LLC now owns 95,229 shares of the company's stock valued at $294,000 after purchasing an additional 44,465 shares during the period. PDT Partners LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $318,000. TCG Crossover Management LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at about $33,174,000. Nantahala Capital Management LLC acquired a new position in Tango Therapeutics in the 4th quarter worth about $8,666,000. Finally, Northern Trust Corp raised its holdings in Tango Therapeutics by 7.1% in the 4th quarter. Northern Trust Corp now owns 513,079 shares of the company's stock worth $1,585,000 after purchasing an additional 33,829 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Tango Therapeutics

In related news, 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 value of $29,236.22. Following the sale, the chief executive officer now owns 1,631,264 shares of the company's stock, valued at approximately $4,877,479.36. This represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 24,268 shares of company stock valued at $72,561 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Tango Therapeutics Stock Up 7.1 %

NASDAQ:TNGX traded up $0.10 during trading hours on Friday, reaching $1.51. 457,643 shares of the company's stock were exchanged, compared to its average volume of 1,081,082. The firm has a market capitalization of $163.24 million, a price-to-earnings ratio of -1.28 and a beta of 1.03. Tango Therapeutics, Inc. has a 1-year low of $1.11 and a 1-year high of $12.02. The company has a 50-day moving average of $1.60 and a 200 day moving average of $2.86.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its 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 business had revenue of $4.12 million for the quarter, compared to analysts' expectations of $7.84 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. Research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS 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.