Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) saw 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. Currently, 11.9% of the company's stock are short sold. Based on an average daily volume of 967,300 shares, the days-to-cover ratio is currently 7.3 days.
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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $12.33.
Read Our Latest Research Report on Tango Therapeutics
Insiders Place Their Bets
In related news, CEO Barbara Weber sold 9,778 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the transaction, the chief executive officer now owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 24,268 shares of company stock worth $72,561 over the last quarter. 6.30% of the stock is owned by corporate insiders.
Institutional Trading of Tango Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of TNGX. Teacher Retirement System of Texas grew its holdings in Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after buying an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tango Therapeutics by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock worth $65,000 after buying an additional 4,813 shares in the last quarter. Deutsche Bank AG grew its holdings in Tango Therapeutics by 24.1% in the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after buying an additional 7,128 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Tango Therapeutics by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after buying an additional 7,599 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Tango Therapeutics by 1,448.4% in the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company's stock worth $84,000 after buying an additional 10,182 shares in the last quarter. 78.99% of the stock is owned by institutional investors.
Tango Therapeutics Trading Down 1.1 %
Tango Therapeutics stock traded down $0.02 during midday trading on Friday, hitting $1.76. The stock had a trading volume of 1,141,395 shares, compared to its average volume of 1,052,478. The stock has a market cap of $190.27 million, a P/E ratio of -1.49 and a beta of 0.87. Tango Therapeutics has a 12 month low of $1.65 and a 12 month high of $12.02. The business has a fifty day moving average price of $2.49 and a 200 day moving average price of $4.41.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. On average, equities analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current fiscal year.
About Tango Therapeutics
(
Get Free Report)
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.
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