Woodline Partners LP Takes $1.22 Million Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Woodline Partners LP bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. TCG Crossover Management LLC bought a new position in shares of Tango Therapeutics in the fourth quarter worth approximately $33,174,000. Boxer Capital Management LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $32,077,000. Gilead Sciences Inc. bought a new position in Tango Therapeutics in the 4th quarter worth $15,000,000. Farallon Capital Management LLC purchased a new stake in Tango Therapeutics in the 4th quarter worth $12,360,000. Finally, Balyasny Asset Management L.P. raised its holdings in Tango Therapeutics by 22.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company's stock valued at $10,133,000 after acquiring an additional 592,000 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock traded up $0.39 on Thursday, hitting $2.33. 8,663,965 shares of the company traded hands, compared to its average volume of 1,305,666. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $12.02. The business has a 50-day simple moving average of $1.47 and a 200 day simple moving average of $2.41. The stock has a market capitalization of $252.56 million, a P/E ratio of -1.97 and a beta of 1.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The company had revenue of $5.39 million during the quarter, compared to the consensus estimate of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. Research analysts expect that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Tango Therapeutics Company 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.