Exchange Traded Concepts LLC Acquires 47,901 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Exchange Traded Concepts LLC grew its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 274.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,327 shares of the company’s stock after buying an additional 47,901 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Tango Therapeutics were worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Woodline Partners LP bought a new stake in Tango Therapeutics during the 4th quarter worth about $1,219,000. Squarepoint Ops LLC bought a new stake in Tango Therapeutics during the 4th quarter worth about $40,000. Two Sigma Advisers LP bought a new stake in Tango Therapeutics during the 4th quarter worth about $81,000. Stonebrook Private Inc. bought a new stake in Tango Therapeutics during the 4th quarter worth about $34,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Tango Therapeutics during the 4th quarter worth about $38,000. 78.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.20.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $5.36 on Wednesday. The firm has a market capitalization of $580.97 million, a PE ratio of -4.39 and a beta of 1.24. The company’s 50-day moving average is $2.53 and its 200-day moving average is $2.46. Tango Therapeutics, Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Tango Therapeutics had a negative return on equity of 62.75% and a negative net margin of 322.67%. The firm had revenue of $5.39 million for the quarter, compared to analyst estimates of $6.73 million. As a group, analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

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.