Exchange Traded Concepts LLC Purchases 47,901 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Exchange Traded Concepts LLC lifted its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 274.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,327 shares of the company's stock after purchasing an additional 47,901 shares during the quarter. Exchange Traded Concepts LLC owned 0.06% of Tango Therapeutics worth $89,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Tango Therapeutics during the fourth quarter worth $33,000. Stonebrook Private Inc. bought a new position in shares of Tango Therapeutics during the fourth quarter worth $34,000. Ameriprise Financial Inc. bought a new position in shares of Tango Therapeutics during the fourth quarter worth $35,000. Sherbrooke Park Advisers LLC bought a new position in shares of Tango Therapeutics during the fourth quarter worth $38,000. Finally, Squarepoint Ops LLC bought a new position in shares of Tango Therapeutics during the fourth quarter worth $40,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Trading Up 0.8%

TNGX opened at $5.36 on Wednesday. The stock has a market capitalization of $580.97 million, a P/E ratio of -4.39 and a beta of 1.24. Tango Therapeutics, Inc. has a 12 month low of $1.03 and a 12 month high of $12.02. The firm's fifty day simple moving average is $2.53 and its 200 day simple moving average is $2.46.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The company had revenue of $5.39 million during the quarter, compared to the consensus estimate of $6.73 million. Tango Therapeutics had a negative net margin of 322.67% and a negative return on equity of 62.75%. On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Tango Therapeutics has a consensus rating of "Buy" and a consensus target price of $12.20.

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.

Want to see what other hedge funds are holding TNGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.