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Bank of America Corp DE Acquires 96,864 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Tango Therapeutics logo with Medical background

Bank of America Corp DE boosted its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,233 shares of the company's stock after purchasing an additional 96,864 shares during the period. Bank of America Corp DE owned about 0.25% of Tango Therapeutics worth $841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $35,000. Algert Global LLC bought a new position in Tango Therapeutics in the fourth quarter valued at about $502,000. Boxer Capital Management LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter valued at about $32,077,000. Jane Street Group LLC grew its holdings in shares of Tango Therapeutics by 87.6% during the fourth quarter. Jane Street Group LLC now owns 95,229 shares of the company's stock worth $294,000 after purchasing an additional 44,465 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $318,000. Institutional investors own 78.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and issued a $13.00 price target 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, the company has an average rating of "Buy" and an average target price of $12.20.

Get Our Latest Stock Analysis on Tango Therapeutics

Tango Therapeutics Stock Up 6.5%

Tango Therapeutics stock traded up $0.31 during mid-day trading on Thursday, hitting $5.05. 2,196,489 shares of the stock were exchanged, compared to its average volume of 1,467,432. The stock has a market capitalization of $547.39 million, a price-to-earnings ratio of -4.28 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 $1.88 and its two-hundred day simple moving average is $2.40.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.36) earnings per share 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 the consensus estimate 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, analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

About Tango Therapeutics

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tango Therapeutics (NASDAQ:TNGX)

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