Orbimed Advisors LLC Takes Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Orbimed Advisors LLC bought a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 550,000 shares of the company's stock, valued at approximately $1,700,000. Orbimed Advisors LLC owned 0.51% of Tango Therapeutics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Millennium Management LLC purchased a new position in Tango Therapeutics during the fourth quarter valued at $771,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Tango Therapeutics during the 4th quarter worth $1,599,000. Graham Capital Management L.P. purchased a new stake in Tango Therapeutics in the 4th quarter worth approximately $108,000. Ensign Peak Advisors Inc raised its holdings in Tango Therapeutics by 100.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 57,319 shares of the company's stock valued at $177,000 after acquiring an additional 28,700 shares during the period. Finally, Farallon Capital Management LLC bought a new position in shares of Tango Therapeutics during the fourth quarter worth $12,360,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Stock Up 14.9%

Shares of NASDAQ:TNGX opened at $1.31 on Tuesday. The business's 50 day moving average is $1.49 and its 200 day moving average is $2.63. The stock has a market cap of $141.62 million, a P/E ratio of -1.11 and a beta of 1.02. Tango Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data 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). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The firm had revenue of $4.12 million during the quarter, compared to analysts' expectations of $7.84 million. On average, sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Tango Therapeutics 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.

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