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

Boothbay Fund Management LLC acquired a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 957,282 shares of the company’s stock, valued at approximately $8,482,000. Boothbay Fund Management LLC owned approximately 0.71% of Tango Therapeutics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in shares of Tango Therapeutics during the 3rd quarter valued at about $450,000. Farallon Capital Management LLC boosted its position in shares of Tango Therapeutics by 17.5% during the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after purchasing an additional 1,600,000 shares in the last quarter. Mass General Brigham Inc bought a new position in shares of Tango Therapeutics during the 4th quarter valued at about $3,138,000. Rafferty Asset Management LLC bought a new position in shares of Tango Therapeutics during the 3rd quarter valued at about $1,221,000. Finally, Avoro Capital Advisors LLC bought a new position in shares of Tango Therapeutics during the 3rd quarter valued at about $4,578,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

Shares of TNGX opened at $32.29 on Thursday. Tango Therapeutics, Inc. has a one year low of $4.60 and a one year high of $34.39. The company has a 50-day moving average of $24.13 and a two-hundred day moving average of $16.87. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -38.90 and a beta of 1.19.

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

Analyst Ratings Changes

TNGX has been the subject of several recent analyst reports. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Jefferies Financial Group cut shares of Tango Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the stock from $18.00 to $27.00 in a report on Thursday, May 14th. UBS Group set a $55.00 target price on shares of Tango Therapeutics in a report on Thursday, May 14th. Weiss Ratings upgraded shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Wedbush raised their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics has an average rating of “Moderate Buy” and an average price target of $38.42.

Insider Activity

In other news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $22.87, for a total value of $617,490.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $2,647,042.41. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 131,460 shares of company stock valued at $2,965,920 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Tango Therapeutics Profile

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.