Nantahala Capital Management LLC Acquires New Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Nantahala Capital Management LLC bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,804,410 shares of the company's stock, valued at approximately $8,666,000. Nantahala Capital Management LLC owned 2.61% of Tango Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in Tango Therapeutics by 35.8% in the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after purchasing an additional 3,831 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Tango Therapeutics by 29.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock worth $65,000 after acquiring an additional 4,813 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Tango Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock valued at $69,000 after buying an additional 7,599 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tango Therapeutics in the fourth quarter valued at $33,000. Finally, Swiss National Bank increased its stake in shares of Tango Therapeutics by 13.1% in the fourth quarter. Swiss National Bank now owns 94,900 shares of the company's stock valued at $293,000 after buying an additional 11,000 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Monday, April 14th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tango Therapeutics currently has an average rating of "Buy" and a consensus price target of $12.33.

Tango Therapeutics Price Performance

Tango Therapeutics stock remained flat at $1.41 during mid-day trading on Thursday. 950,408 shares of the company were exchanged, compared to its average volume of 1,078,221. The stock has a market cap of $152.43 million, a P/E ratio of -1.19 and a beta of 1.03. Tango Therapeutics, Inc. has a 1-year low of $1.11 and a 1-year high of $12.02. The firm's 50 day simple moving average is $1.63 and its 200 day simple moving average is $2.99.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.03). The company had revenue of $4.12 million for the quarter, compared to analyst estimates of $7.84 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. As a group, analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barbara Weber sold 9,778 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the sale, the chief executive officer now directly owns 1,631,264 shares of the company's stock, valued at $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 24,268 shares of company stock valued at $72,561 in the last three months. Insiders own 6.30% of the company's stock.

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.