Tango Therapeutics, Inc. (NASDAQ:TNGX) Short Interest Up 29.4% in March

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

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued 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, Based on data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Buy” and an average price target of $12.33.

Tango Therapeutics Stock Up 5.1 %

Shares of TNGX traded up $0.07 during mid-day trading on Wednesday, reaching $1.35. 243,193 shares of the stock traded hands, compared to its average volume of 1,062,962. The firm has a market cap of $145.41 million, a price-to-earnings ratio of -1.12 and a beta of 0.87. The stock has a fifty day simple moving average of $2.30 and a 200 day simple moving average of $3.89. Tango Therapeutics has a 12-month low of $1.24 and a 12-month high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.03). The firm had revenue of $4.12 million for the quarter, compared to analysts’ expectations of $7.84 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. On average, equities research analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. TCG Crossover Management LLC acquired a new stake in Tango Therapeutics during the 4th quarter valued at approximately $33,174,000. Boxer Capital Management LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at approximately $32,077,000. Gilead Sciences Inc. purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at approximately $15,000,000. Farallon Capital Management LLC bought a new stake in shares of Tango Therapeutics in the fourth quarter worth $12,360,000. Finally, Nantahala Capital Management LLC acquired a new stake in Tango Therapeutics in the fourth quarter valued at $8,666,000. Institutional investors and hedge funds 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.