550,000 Shares in Tango Therapeutics, Inc. (NASDAQ:TNGX) Bought by Orbimed Advisors LLC

Orbimed Advisors LLC bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 550,000 shares of the company's stock, valued at approximately $1,700,000. Orbimed Advisors LLC owned approximately 0.51% of Tango Therapeutics as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of TNGX. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at $33,000. Ameriprise Financial Inc. acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at $35,000. Teacher Retirement System of Texas boosted its holdings in shares of Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock valued at $45,000 after purchasing an additional 3,831 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at $45,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Tango Therapeutics by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after purchasing an additional 4,813 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company's stock.

Wall Street Analyst Weigh In

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

Tango Therapeutics Stock Performance

Shares of TNGX traded down $0.02 during trading hours on Friday, reaching $1.50. The stock had a trading volume of 1,075,654 shares, compared to its average volume of 1,089,163. Tango Therapeutics, Inc. has a 12 month low of $1.03 and a 12 month high of $12.02. The stock has a market capitalization of $162.59 million, a PE ratio of -1.27 and a beta of 1.02. The company's 50-day moving average is $1.45 and its two-hundred day moving average is $2.53.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The firm 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%. Equities analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

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.