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

Tango Therapeutics, Inc. (NASDAQ:TNGX) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 7,110,000 shares, a drop of 21.7% from the October 31st total of 9,080,000 shares. Currently, 14.4% of the company’s shares are short sold. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is presently 3.9 days.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the sale, the insider now owns 3,610,642 shares of the company’s stock, valued at approximately $11,337,415.88. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mace Rothenberg purchased 10,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $3.62 per share, with a total value of $36,200.00. Following the acquisition, the director now owns 21,250 shares in the company, valued at approximately $76,925. The trade was a 88.89 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 4,480,400 shares of company stock valued at $20,002,882. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares in the last quarter. State Street Corp lifted its position in Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after acquiring an additional 489,949 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tango Therapeutics by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after purchasing an additional 142,710 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tango Therapeutics by 18.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock valued at $3,752,000 after purchasing an additional 76,540 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Tango Therapeutics during the 2nd quarter worth approximately $3,836,000. Institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of recent analyst reports. Wedbush increased their price target on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th. B. Riley lowered their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Guggenheim cut their price target on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.14.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $4.08 on Friday. Tango Therapeutics has a 52 week low of $2.70 and a 52 week high of $13.01. The business has a 50 day moving average price of $5.68 and a 200-day moving average price of $7.90.

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.