Nantahala Capital Management LLC Invests $8.67 Million in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Nantahala Capital Management LLC purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,804,410 shares of the company's stock, valued at approximately $8,666,000. Nantahala Capital Management LLC owned approximately 2.61% of Tango Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Tango Therapeutics by 78.3% in the third quarter. Barclays PLC now owns 126,281 shares of the company's stock valued at $972,000 after acquiring an additional 55,470 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tango Therapeutics by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company's stock valued at $10,538,000 after purchasing an additional 142,710 shares during the last quarter. Catalina Capital Group LLC bought a new stake in shares of Tango Therapeutics during the 4th quarter worth $82,000. Congress Asset Management Co. boosted its holdings in shares of Tango Therapeutics by 9.0% in the 4th quarter. Congress Asset Management Co. now owns 227,989 shares of the company's stock worth $704,000 after buying an additional 18,919 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Tango Therapeutics during the fourth quarter valued at about $218,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the sale, the chief executive officer now owns 1,631,264 shares of the company's stock, valued at approximately $4,877,479.36. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 24,268 shares of company stock valued at $72,561 over the last three months. Company insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $12.33.

Tango Therapeutics Stock Performance

NASDAQ TNGX traded up $0.10 during trading on Friday, hitting $1.51. 457,643 shares of the company's stock traded hands, compared to its average volume of 1,078,141. The stock has a market capitalization of $163.24 million, a price-to-earnings ratio of -1.28 and a beta of 1.03. Tango Therapeutics, Inc. has a 12-month low of $1.11 and a 12-month high of $12.02. The business has a 50 day moving average of $1.60 and a 200-day moving average of $2.91.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The business had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. On average, analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current 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.