Woodline Partners LP Purchases Shares of 394,397 Tango Therapeutics, Inc. (NASDAQ:TNGX)

Woodline Partners LP bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 394,397 shares of the company's stock, valued at approximately $1,219,000. Woodline Partners LP owned approximately 0.37% of Tango Therapeutics at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Tango Therapeutics in the fourth quarter valued at about $33,000. Stonebrook Private Inc. purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $34,000. Ameriprise Financial Inc. purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $38,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $40,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tango Therapeutics Stock Down 6.4%

Shares of TNGX traded down $0.15 during mid-day trading on Friday, reaching $2.18. 2,655,898 shares of the company's stock were exchanged, compared to its average volume of 1,316,775. The company has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $2.39. Tango Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $12.02. The company has a market cap of $236.30 million, a price-to-earnings ratio of -1.85 and a beta of 1.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $5.39 million during the quarter, compared to analysts' expectations 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.

About Tango Therapeutics

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.