Millennium Management LLC Makes New Investment in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Millennium Management LLC bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 249,646 shares of the company's stock, valued at approximately $771,000. Millennium Management LLC owned about 0.23% of Tango Therapeutics at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TCG Crossover Management LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $33,174,000. Boxer Capital Management LLC acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $32,077,000. Gilead Sciences Inc. acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $15,000,000. Farallon Capital Management LLC acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $12,360,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $8,666,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Trading Up 21.4%

Shares of NASDAQ:TNGX traded up $0.75 on Friday, hitting $4.26. The company had a trading volume of 9,177,645 shares, compared to its average volume of 1,432,262. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $12.02. The stock has a market cap of $461.76 million, a price-to-earnings ratio of -3.61 and a beta of 1.24. The stock has a 50 day moving average price of $1.69 and a 200 day moving average price of $2.37.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Tango Therapeutics 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.