Millennium Management LLC Buys New Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Millennium Management LLC acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 249,646 shares of the company's stock, valued at approximately $771,000. Millennium Management LLC owned about 0.23% of Tango Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Teacher Retirement System of Texas grew its holdings in shares of Tango Therapeutics by 35.8% in the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Tango Therapeutics by 29.7% in 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 during the period. Deutsche Bank AG grew its stake in Tango Therapeutics by 24.1% in the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after acquiring an additional 7,128 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Tango Therapeutics by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after acquiring an additional 7,599 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 78.99% of the company's stock.

Wall Street Analyst Weigh In

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

Tango Therapeutics Stock Up 7.5%

NASDAQ TNGX traded up $0.31 on Tuesday, hitting $4.47. 3,493,137 shares of the stock were exchanged, compared to its average volume of 1,451,493. Tango Therapeutics, Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $12.02. The company has a 50-day moving average price of $1.74 and a 200-day moving average price of $2.37. The company has a market cap of $484.52 million, a PE ratio of -3.79 and a beta of 1.24.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The firm 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%. As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

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.