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

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

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $1.78 on Friday. Tango Therapeutics has a 52 week low of $1.68 and a 52 week high of $12.02. The company has a market capitalization of $192.43 million, a PE ratio of -1.51 and a beta of 0.87. The company has a 50 day moving average price of $2.51 and a two-hundred day moving average price of $4.48.

Tango Therapeutics (NASDAQ:TNGX) last issued its 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 firm had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. On average, sell-side analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total value 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 represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 24,268 shares of company stock worth $72,561 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its position in shares of Tango Therapeutics by 35.8% during the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company’s stock worth $45,000 after acquiring an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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. Deutsche Bank AG increased its position in shares of Tango Therapeutics by 24.1% during the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock worth $113,000 after acquiring an additional 7,128 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Tango Therapeutics by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company’s stock worth $69,000 after acquiring an additional 7,599 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after acquiring an additional 10,182 shares in the last quarter. Institutional investors own 78.99% 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.