Short Interest in Tango Therapeutics, Inc. (NASDAQ:TNGX) Expands By 29.4%

Tango Therapeutics, Inc. (NASDAQ:TNGX) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 9,110,000 shares, an increase of 29.4% from the February 28th total of 7,040,000 shares. Based on an average trading volume of 873,500 shares, the days-to-cover ratio is currently 10.4 days. Approximately 15.4% of the shares of the company are short sold.

Insider Transactions at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the transaction, the chief executive officer now directly owns 1,631,264 shares in the company, valued at $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 24,268 shares of company stock worth $72,561. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Tango Therapeutics during the 4th quarter valued at $33,000. Stonebrook Private Inc. acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth approximately $34,000. Ameriprise Financial Inc. purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth $35,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $38,000. Finally, Squarepoint Ops LLC acquired a new stake in Tango Therapeutics in the fourth quarter valued at approximately $40,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Down 1.7 %

NASDAQ TNGX traded down $0.03 on Monday, hitting $1.45. The stock had a trading volume of 160,716 shares, compared to its average volume of 1,061,599. The company’s 50-day moving average is $2.37 and its two-hundred day moving average is $4.02. The stock has a market cap of $156.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.87. Tango Therapeutics has a one year low of $1.35 and a one year high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share 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 for the quarter, compared to the consensus estimate of $7.84 million. On average, sell-side analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

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