Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Rating) saw a significant increase in short interest in December. As of December 30th, there was short interest totalling 1,460,000 shares, an increase of 33.9% from the December 15th total of 1,090,000 shares. Based on an average daily volume of 215,200 shares, the days-to-cover ratio is presently 6.8 days. Approximately 2.9% of the shares of the stock are short sold.
Hedge Funds Weigh In On Tango Therapeutics
Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in Tango Therapeutics by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 148,196 shares of the company's stock valued at $537,000 after purchasing an additional 13,812 shares during the last quarter. State Street Corp increased its stake in Tango Therapeutics by 17.5% in the third quarter. State Street Corp now owns 872,602 shares of the company's stock valued at $3,159,000 after purchasing an additional 130,266 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Tango Therapeutics in the third quarter valued at $107,000. Jacobs Levy Equity Management Inc. acquired a new position in Tango Therapeutics in the third quarter valued at $1,252,000. Finally, Algert Global LLC increased its stake in Tango Therapeutics by 102.8% in the third quarter. Algert Global LLC now owns 34,423 shares of the company's stock valued at $125,000 after purchasing an additional 17,453 shares during the last quarter. 77.30% of the stock is currently owned by institutional investors and hedge funds.
Get Tango Therapeutics alerts:Analyst Upgrades and Downgrades
Several analysts have recently issued reports on TNGX shares. Wedbush upped their price objective on Tango Therapeutics to $21.00 in a research report on Wednesday, November 16th. HC Wainwright upgraded Tango Therapeutics from a "neutral" rating to a "buy" rating in a research report on Thursday, October 20th.
Tango Therapeutics Trading Down 1.9 %
Shares of NASDAQ:TNGX traded down $0.14 on Friday, hitting $7.21. The company had a trading volume of 2,941 shares, compared to its average volume of 139,198. Tango Therapeutics has a 52-week low of $3.18 and a 52-week high of $9.99. The business has a 50 day moving average of $7.65 and a 200 day moving average of $5.86. The company has a market cap of $635.76 million, a PE ratio of -6.31 and a beta of 1.78.Tango Therapeutics (NASDAQ:TNGX – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). Tango Therapeutics had a negative net margin of 418.63% and a negative return on equity of 32.72%. The company had revenue of $6.92 million during the quarter, compared to analysts' expectations of $5.97 million. As a group, equities analysts predict that Tango Therapeutics will post -1.26 EPS for the current year.
Tango Therapeutics Company Profile
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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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