Boothbay Fund Management LLC Invests $8.48 Million in Tango Therapeutics, Inc. $TNGX

Boothbay Fund Management LLC purchased a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the fourth quarter, Holdings Channel reports. The fund purchased 957,282 shares of the company’s stock, valued at approximately $8,482,000.

Other hedge funds have also made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in shares of Tango Therapeutics in the third quarter worth approximately $450,000. Farallon Capital Management LLC lifted its position in shares of Tango Therapeutics by 17.5% in the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock worth $90,359,000 after purchasing an additional 1,600,000 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Tango Therapeutics in the fourth quarter worth approximately $3,138,000. Rafferty Asset Management LLC purchased a new stake in shares of Tango Therapeutics in the third quarter worth approximately $1,221,000. Finally, Avoro Capital Advisors LLC bought a new position in Tango Therapeutics during the third quarter valued at approximately $4,578,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 38,460 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total transaction of $961,500.00. Following the transaction, the insider owned 112,622 shares in the company, valued at $2,815,550. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 131,460 shares of company stock worth $2,965,920 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $32.29 on Thursday. The firm has a market cap of $4.67 billion, a PE ratio of -38.90 and a beta of 1.19. The firm’s 50 day moving average price is $24.13 and its 200 day moving average price is $16.87. Tango Therapeutics, Inc. has a twelve month low of $4.60 and a twelve month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. On average, sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TNGX. Guggenheim raised their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Mizuho set a $36.00 price objective on shares of Tango Therapeutics in a research report on Monday, June 8th. Piper Sandler lowered shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. Finally, Leerink Partners raised their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.42.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.