TNGX
Tango Therapeutics, Inc.Healthcare·Biotechnology
$21.98
$2.6B market cap
Revenue
$0.0M
Free Cash Flow
$-74.3M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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. The company also develops Ubiquitin-specific protease 1, an inhibitor to treat patients with BRCA1 or BRCA2-mutant cancers; and Target 3 for STK11-mutant cancers. Tango Therapeut
2-Year Price History
$20.24+192.5%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -48.3 | -48.8 | -45.5 | -44.4 | -44.4 | -0.0 | 379.8 | 32.8 | 143.6 | -103.3% | -- | -- |
| Act | 2025-Q4 | 0.0 | -41.4 | -41.9 | -38.8 | -29.7 | -29.9 | -0.2 | 343.1 | 33.6 | 116.2 | -114.5% | -- | -- |
Valuation & Metrics
Market Stats
Price$21.98
Market Cap$2.6B
Enterprise Value$2.2B
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-2.9%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-84.3M
Free Cash Flow$-74.3M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-108.9%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares38.3M
Days to Cover12.5
Change (vs Prior)-5.0%
Need at least 2 settlement dates for chart
Employees
Headcount155
Revenue / Employee$0
Gross Profit / Employee$-6,077
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
130.2%(+125.0% YoY)
175 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
20.3%(+19.7% YoY)
12 filers
Vanguard, iShares, SPDR
Market makers
0.4%(+0.3% YoY)
5 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| RTW INVESTMENTS, LP | $278M | $19.47 | +$247M | +$278M | -2.2% | $9.26B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $268M | $9.83 | +$46.1M | +$268M | -0.1% | $64.61B |
| Boxer Capital Management, LLC | $228M | $3.64 | +$0 | +$10.4M | +12.7% | $762M |
| TCG Crossover Management, LLC | $220M | $4.86 | −$46.7M | −$4.3M | +4.3% | $3.50B |
| FMR LLC | $207M | $13.74 | +$147M | +$207M | -0.0% | $1.89T |
| FARALLON CAPITAL MANAGEMENT LLC | $190M | $5.43 | −$82.9M | +$93.9M | -0.5% | $15.27B |
| BlackRock, Inc.Passive | $183M | $7.97 | +$4.3M | +$98.7M | -0.2% | $5.69T |
| Woodline Partners LP | $167M | $6.64 | −$43.4M | +$157M | -0.1% | $26.43B |
| Nextech Invest, Ltd. | $152M | $3.16 | +$0 | +$36.2M | +24.1% | $1.42B |
| TRV GP IV, LLC | $133M | $4.53 | −$31.4M | −$219M | -14.8% | $267M |
| Siren, L.L.C. | $118M | $7.99 | −$52.5M | +$64.7M | +5.7% | $3.61B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $108M | $20.92 | +$108M | +$108M | — | $4.04T |
| GOLDMAN SACHS GROUP INC | $106M | $8.88 | +$2.8M | +$103M | -0.2% | $760.93B |
| STATE STREET CORPPassive | $97.3M | $7.98 | −$32.8M | +$73.4M | -0.2% | $2.89T |
| DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) | $86.8M | $13.11 | +$25.9M | +$86.8M | -0.9% | $7.18B |
| Paradigm Biocapital Advisors LP | $83.9M | $11.28 | +$19.3M | +$83.9M | +1.9% | $4.69B |
| Holocene Advisors, LP | $82.3M | $20.92 | +$82.3M | +$82.3M | -0.1% | $41.28B |
| BALYASNY ASSET MANAGEMENT LLC | $80.1M | $8.10 | −$30.4M | +$12.7M | -0.4% | $48.01B |
| Logos Global Management LP | $62.8M | $8.76 | −$25.1M | +$62.8M | -1.7% | $1.94B |
| Deep Track Capital, LP | $57.5M | $9.91 | +$6.2M | +$57.5M | -1.2% | $4.85B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
+2.72%
avg per quarter
Holders (ex-self)
+1.64%
excl. this stock
Buyers (this Q)
-0.17%
110 buyers · $1.44B in
Sellers (this Q)
+0.67%
67 sellers · $-0.60B out
alpha coverage: 96% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-9.3%
how holders react when this stock falls
On quiet Qs
+15.9%
−10% to +10% baseline
On rallies (+10%+)
+16.3%
how they react when this stock rises
Holders' portfolio flow this Q
+1.8%
inflows — adds are organic
Sellers' portfolio flow this Q
-0.8%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-5.8%
Holder mid (any stock)
-3.9%
Holder rally (any stock)
-5.4%
Biggest decreases this quarter
FARALLON CAPITAL MANAGEMENT LLC−$82.9Mα-0.5Siren, L.L.C.−$52.5Mα+5.7TCG Crossover Management, LLC−$46.7Mα+4.3Woodline Partners LP−$43.4Mα-0.1STATE STREET CORP−$32.8Mα-0.2Bellevue Group AG−$32.0Mα-4.4TRV GP IV, LLC−$31.4Mα-14.8BALYASNY ASSET MANAGEMENT LLC−$30.4Mα-0.4Caligan Partners LP−$27.6Mα+6.5Logos Global Management LP−$25.1Mα-1.7
New buyers this quarter
Top-5 holders · 31.9%
RTW INVESTMENTS, LP--
ADAGE CAPITAL PARTNERS GP, L.L.C.--
Boxer Capital Management, LLC--
TCG Crossover Management, LLC--
FMR LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
RTW INVESTMENTS, LP13.3MADAGE CAPITAL PARTNERS GP, L.L.C.12.8MTRV GP IV, LLC6.4MBoxer Capital Management, LLC10.9MTCG Crossover Management, LLC10.5MFMR LLC9.9MFARALLON CAPITAL MANAGEMENT LLC9.1MWoodline Partners LP8.0MNextech Invest, Ltd.7.3MEcoR1 Capital, LLC—
Related Stocks
Investors who own this also own
Stocks held by the same active managers as this one, ranked by score — how much more often these appear together than random chance (1× = baseline). Excludes index ETFs and market makers; minimum 3 shared holders.
| Ticker | Name | Co-holders | Score |
|---|---|---|---|
| ERAS | Erasca, Inc. | 8 | 188.80× |
| OLMA | Olema Pharmaceuticals, Inc. | 4 | 169.92× |
| LBRX | LB Pharmaceuticals Inc Common Stock | 3 | 159.30× |
| TYRA | Tyra Biosciences, Inc. | 5 | 151.71× |
| IDYA | IDEAYA Biosciences, Inc. | 3 | 141.60× |
| CMPX | Compass Therapeutics, Inc. | 3 | 127.44× |
| SVRA | Savara Inc. | 3 | 127.44× |
| CRVS | Corvus Pharmaceuticals, Inc. | 3 | 115.86× |
| CGON | CG Oncology, Inc. Common stock | 4 | 99.95× |
| MAZE | Maze Therapeutics, Inc. | 4 | 99.95× |
| SYRE | Spyre Therapeutics, Inc. | 4 | 99.95× |
| MBX | MBX Biosciences, Inc. Common Stock | 3 | 98.03× |
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (9 analysts)$30.003650.0%
Last Year (12 analysts)$25.921790.0%
Current Price$21.98
Analyst Ratings
10
2
Buy: 10Hold: 2Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$4.07M
9 txns · 3 insiders · 238,344 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$26.35M
7 txns · 1 insider · 3,472,501 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-01 | SELL | Crystal Adam | officer: President, R&D | 27,000 | $21.23 | $573K | $2.46M |
| 2026-04-15 | SELL | Crystal Adam | officer: President, R&D | 38,460 | $25.00 | $962K | $2.82M |
| 2026-04-01 | SELL | Crystal Adam | officer: President, R&D | 27,000 | $21.20 | $572K | $2.39M |
| 2026-03-25 | SELL | Crystal Adam | officer: President, R&D | 12,000 | $20.11 | $241K | $2.26M |
| 2026-03-05 | SELL | Crystal Adam | officer: President, R&D | 20,251 | $15.00 | $304K | $1.69M |
| 2026-02-25 | SELL | Crystal Adam | officer: President, R&D | 54,345 | $12.77 | $694K | $1.70M |
| 2026-02-03 | SELL | Beckman Daniella | officer: Chief Financial Officer | 10,317 | $12.26 | $127K | $2.26M |
| 2026-02-03 | SELL | Crystal Adam | officer: President, R&D | 18,452 | $12.26 | $226K | $2.30M |
| 2026-02-03 | SELL | Weber Barbara | director, officer: Director, Executive Chair | 30,519 | $12.26 | $374K | $19.98M |
| 2025-10-23 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 477,401 | $10.15 | $4.85M | $135.90M |
| 2025-09-25 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 500,000 | $8.02 | $4.01M | $111.15M |
| 2025-09-16 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 363,541 | $7.04 | $2.56M | $101.12M |
| 2025-09-08 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 86,459 | $7.04 | $609K | $103.67M |
| 2025-09-05 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 642,906 | $7.00 | $4.50M | $103.70M |
| 2025-08-22 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 302,194 | $7.00 | $2.12M | $108.20M |
| 2025-08-19 | SELL | Third Rock Ventures IV, L.P. | 10 percent owner | 1,100,000 | $7.01 | $7.71M | $110.50M |
Order Flow (FINRA, ~3w lag)
23.4%retail-2.1pp
29.8%dark-0.2pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Tango Therapeutics: Gilead Revenue Windfall Masks Pipeline Atrophy and Dilutive Spiral
Overall Risk
7/10
Fraud
3/10
Dilution
9/10
Insolvency
5/10
Earnings Overstated
8/10
Hidden Liabilities
4/10
Legal
3/10
Audit Warnings
2/10
Hidden Upside
4/10
Contextually Acceptable
4/10