Nantahala Capital Management LLC Invests $15.65 Million in Tango Therapeutics, Inc. $TNGX

Nantahala Capital Management LLC bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 500,659 shares of the company’s stock, valued at approximately $15,650,600.

A number of other institutional investors and hedge funds also recently modified their holdings of TNGX. BlackRock Inc. purchased a new stake in shares of Tango Therapeutics during the second quarter valued at $388,826,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the period. TRV GP IV LLC purchased a new position in Tango Therapeutics in the 2nd quarter worth about $120,181,383,000. Jupiter Topco LLC purchased a new position in Tango Therapeutics in the 2nd quarter worth about $157,989,000. Finally, Caligan Partners LP acquired a new stake in Tango Therapeutics during the 4th quarter worth about $33,047,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Leerink Partners upped their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $24.00 in a research report on Thursday, May 14th. Wolfe Research set a $35.00 price target on shares of Tango Therapeutics and gave the company an “outperform” rating in a report on Monday, June 8th. Canaccord Genuity Group upped their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, UBS Group set a $55.00 price objective on shares of Tango Therapeutics in a research note on Thursday, May 14th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.46.

Tango Therapeutics Trading Down 7.7%

Shares of TNGX stock opened at $23.34 on Friday. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -27.46 and a beta of 1.16. Tango Therapeutics, Inc. has a 1-year low of $6.25 and a 1-year high of $34.39. The stock’s fifty day simple moving average is $27.75 and its 200-day simple moving average is $23.13.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, sell-side analysts predict that Tango Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider owned 115,743 shares in the company, valued at $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is owned by corporate insiders.

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.