4,000,000 Shares in Tango Therapeutics, Inc. (NASDAQ:TNGX) Bought by Farallon Capital Management LLC

Farallon Capital Management LLC bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,000,000 shares of the company’s stock, valued at approximately $12,360,000. Farallon Capital Management LLC owned about 3.72% of Tango Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of Tango Therapeutics by 24.1% during the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock worth $113,000 after acquiring an additional 7,128 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in shares of Tango Therapeutics in the fourth quarter valued at approximately $355,000. Corton Capital Inc. bought a new position in Tango Therapeutics in the 4th quarter worth approximately $75,000. Balyasny Asset Management L.P. grew its stake in Tango Therapeutics by 22.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company’s stock valued at $10,133,000 after buying an additional 592,000 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Tango Therapeutics by 55.2% during the 4th quarter. Bank of America Corp DE now owns 272,233 shares of the company’s stock valued at $841,000 after acquiring an additional 96,864 shares during the period. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $1.10 on Friday. The stock has a market cap of $118.92 million, a P/E ratio of -0.93 and a beta of 1.02. Tango Therapeutics, Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $12.02. The firm’s fifty day moving average price is $1.52 and its 200-day moving average price is $2.75.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). The business 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, analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Monday, April 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.33.

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.