Nantahala Capital Management LLC Takes Position in Tango Therapeutics, Inc. $TNGX

Nantahala Capital Management LLC acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 500,659 shares of the company's stock, valued at approximately $15,650,600. Nantahala Capital Management LLC owned 0.30% of Tango Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNGX. Invesco Ltd. increased its position in Tango Therapeutics by 138.8% in the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company's stock valued at $97,000 after acquiring an additional 40,983 shares during the period. AQR Capital Management LLC acquired a new position in Tango Therapeutics during the 1st quarter worth $195,000. Dynamic Technology Lab Private Ltd boosted its position in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after acquiring an additional 15,037 shares during the period. Woodline Partners LP grew its stake in shares of Tango Therapeutics by 28.3% in the first quarter. Woodline Partners LP now owns 506,188 shares of the company's stock worth $693,000 after purchasing an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Tango Therapeutics by 270.6% in the first quarter. Jane Street Group LLC now owns 352,897 shares of the company's stock worth $483,000 after purchasing an additional 257,668 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider owned 115,743 shares in the company, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TNGX. Canaccord Genuity Group raised their price target on Tango Therapeutics from $42.00 to $46.00 and gave the company a "buy" rating in a report on Monday, June 29th. Wedbush increased their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the company an "outperform" rating in a research report on Monday, June 8th. Guggenheim raised their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.46.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $23.34 on Friday. Tango Therapeutics, Inc. has a 1 year low of $6.25 and a 1 year high of $34.39. The business's fifty day moving average is $27.75 and its 200-day moving average is $23.13. The stock has a market cap of $3.94 billion, a PE ratio of -27.46 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Equities research analysts predict that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company's lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.

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