The Manufacturers Life Insurance Company bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 181,212 shares of the company's stock, valued at approximately $5,665,000. The Manufacturers Life Insurance Company owned about 0.11% of Tango Therapeutics as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Tango Therapeutics during the 2nd quarter worth approximately $388,826,000. Adage Capital Partners GP L.L.C. boosted its position in Tango Therapeutics by 322.5% during 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 acquired a new position in Tango Therapeutics during the 2nd quarter valued at approximately $120,181,383,000. Caligan Partners LP bought a new position in Tango Therapeutics during the 4th quarter worth $33,047,000. Finally, Goldman Sachs Group Inc. increased its position in Tango Therapeutics by 227.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company's stock worth $43,790,000 after buying an additional 3,432,939 shares during the period. 78.99% of the stock is owned by institutional investors.
Tango Therapeutics Stock Performance
TNGX opened at $22.84 on Tuesday. The company has a market capitalization of $3.85 billion, a PE ratio of -26.87 and a beta of 1.16. The stock's fifty day moving average is $27.64 and its 200-day moving average is $23.28. Tango Therapeutics, Inc. has a one year low of $6.25 and a one year high of $34.39.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.
Insiders Place Their Bets
In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company's stock, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.50% of the company's stock.
Wall Street Analysts Forecast Growth
TNGX has been the topic of a number of recent research reports. Leerink Partners raised their target price on Tango Therapeutics from $55.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Guggenheim upped their price target on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Wedbush increased their price objective 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. B. Riley Financial reiterated a "buy" rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Finally, Mizuho boosted their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.46.
Read Our Latest Research Report on TNGX
Tango Therapeutics Profile
(
Free Report)
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.
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