Nantahala Capital Management LLC Buys 183,573 Shares of Tango Therapeutics, Inc. $TNGX

Key Points

• Nantahala Capital Management LLC increased its stake in Tango Therapeutics by 6.5%, acquiring an additional 183,573 shares, bringing its total holdings to approximately 2,987,983 shares valued at $4,094,000.
• Multiple institutional investors have recently entered or increased their positions in Tango Therapeutics, with 78.99% of the stock now owned by institutional investors.
• Tango Therapeutics' stock has a consensus rating of "Buy" with a target price of about $10.50, following positive analyst assessments and recent price target increases.

Nantahala Capital Management LLC raised its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,987,983 shares of the company's stock after buying an additional 183,573 shares during the period. Nantahala Capital Management LLC owned 2.76% of Tango Therapeutics worth $4,094,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Tango Therapeutics by 2,376.2% in the 1st quarter. Russell Investments Group Ltd. now owns 51,183 shares of the company's stock worth $73,000 after purchasing an additional 49,116 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tango Therapeutics in the first quarter worth $277,000. Invesco Ltd. lifted its stake in shares of Tango Therapeutics by 138.8% in the first quarter. Invesco Ltd. now owns 70,517 shares of the company's stock worth $97,000 after buying an additional 40,983 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Tango Therapeutics by 46.7% during the 1st quarter. Deutsche Bank AG now owns 53,788 shares of the company's stock worth $74,000 after buying an additional 17,135 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Tango Therapeutics by 6.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 548,014 shares of the company's stock valued at $751,000 after buying an additional 34,585 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

Insider Buying and Selling at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $7.00, for a total value of $2,115,358.00. Following the sale, the insider owned 15,456,881 shares of the company's stock, valued at $108,198,167. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.50% of the company's stock.

Tango Therapeutics Stock Up 1.9%

Shares of TNGX stock traded up $0.13 during mid-day trading on Thursday, reaching $6.83. The stock had a trading volume of 1,109,775 shares, compared to its average volume of 1,719,292. The firm's 50 day simple moving average is $6.44 and its 200 day simple moving average is $3.69. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $11.92. The firm has a market cap of $759.91 million, a PE ratio of -5.14 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.35) EPS for the quarter, meeting analysts' consensus estimates of ($0.35). Tango Therapeutics had a negative return on equity of 79.72% and a negative net margin of 599.11%.The business had revenue of $3.18 million during the quarter, compared to analyst estimates of $6.41 million. Sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TNGX shares. Guggenheim upped their price target on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Piper Sandler began coverage on Tango Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $11.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $10.50.

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.