Arizona State Retirement System Purchases New Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Arizona State Retirement System purchased a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,667 shares of the company’s stock, valued at approximately $99,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada acquired a new stake in shares of Tango Therapeutics in the first quarter valued at $32,000. Teacher Retirement System of Texas purchased a new stake in shares of Tango Therapeutics during the 3rd quarter worth approximately $36,000. Renaissance Technologies LLC purchased a new stake in Tango Therapeutics in the 3rd quarter valued at approximately $41,000. Jump Financial LLC purchased a new stake in Tango Therapeutics in the 3rd quarter valued at approximately $49,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Tango Therapeutics in the 2nd quarter valued at $50,000. 77.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upped their price objective on Tango Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th.

Tango Therapeutics Trading Down 16.6 %

Shares of NASDAQ:TNGX opened at $2.92 on Friday. Tango Therapeutics, Inc. has a 52 week low of $2.88 and a 52 week high of $8.56. The firm has a market capitalization of $258.16 million, a P/E ratio of -2.32 and a beta of 1.62. The firm’s 50 day moving average is $3.84 and its two-hundred day moving average is $5.79.

Tango Therapeutics (NASDAQ:TNGX – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. Tango Therapeutics had a negative net margin of 446.26% and a negative return on equity of 42.34%. The firm had revenue of $5.77 million during the quarter, compared to analysts’ expectations of $6.70 million. Analysts predict that Tango Therapeutics, Inc. will post -1.4 EPS for the current year.

Tango Therapeutics Profile

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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.