Tango Therapeutics, Inc. (NASDAQ:TNGX) Short Interest Update

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) saw a large increase in short interest during the month of 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. Approximately 15.4% of the company's stock are sold short. Based on an average daily trading volume, of 873,500 shares, the days-to-cover ratio is presently 10.4 days.

Insider Activity

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the company's 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 directly owns 1,631,264 shares of the company's stock, valued at approximately $4,877,479.36. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 24,268 shares of company stock valued at $72,561. 6.30% of the stock is owned by insiders.

Institutional Trading of Tango Therapeutics

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

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Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $12.33.

Tango Therapeutics Stock Performance

TNGX remained flat at $1.27 on Friday. 698,555 shares of the company were exchanged, compared to its average volume of 1,062,931. The firm has a market cap of $137.30 million, a PE ratio of -1.08 and a beta of 0.87. Tango Therapeutics has a twelve month low of $1.22 and a twelve month high of $12.02. The firm's fifty day simple moving average is $2.23 and its two-hundred day simple moving average is $3.86.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $7.84 million. Research analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

About Tango Therapeutics

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.