Tango Therapeutics, Inc. (NASDAQ:TNGX) Short Interest Up 18.5% in February

Tango Therapeutics, Inc. (NASDAQ:TNGX) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 7,040,000 shares, an increase of 18.5% from the February 13th total of 5,940,000 shares. Based on an average daily volume of 967,300 shares, the short-interest ratio is presently 7.3 days. Approximately 11.9% of the company’s stock are short sold.

Insider Transactions at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction on Tuesday, February 4th. The shares were 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 $4,877,479.36. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 24,268 shares of company stock valued at $72,561. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Tango Therapeutics during the 4th quarter valued at about $33,000. Stonebrook Private Inc. bought a new stake in shares of Tango Therapeutics in the 4th quarter worth $34,000. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics during the fourth quarter worth about $35,000. Sherbrooke Park Advisers LLC bought a new stake in Tango Therapeutics in the fourth quarter worth about $38,000. Finally, Squarepoint Ops LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $40,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Stock Down 2.5 %

Shares of Tango Therapeutics stock opened at $1.73 on Thursday. Tango Therapeutics has a fifty-two week low of $1.71 and a fifty-two week high of $12.02. The firm has a market cap of $186.49 million, a P/E ratio of -1.46 and a beta of 0.87. The business has a 50-day moving average price of $2.54 and a 200 day moving average price of $4.50.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results 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 net margin of 284.42% and a negative return on equity of 49.64%. The business had revenue of $4.12 million during the quarter, compared to analyst estimates of $7.84 million. As a group, equities research analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics currently has an average rating of “Buy” and a consensus price target of $12.33.

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.