250,756 Tango Therapeutics, Inc. $TNGX Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Tango Therapeutics stake by 72.7%, purchasing 250,756 shares to own 595,912 shares valued at approximately $14.9 million. Institutional investors collectively hold 78.99% of the company.
• Tango Therapeutics shares were reported up 6.8%, opening at $23.53, while the company has a $3.97 billion market capitalization and a 52-week trading range of $6.69 to $34.39.
• The company missed quarterly earnings expectations, reporting a loss of $0.37 per share versus the projected $0.32 loss. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $43.46.

Assenagon Asset Management S.A. increased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 72.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 595,912 shares of the company's stock after purchasing an additional 250,756 shares during the quarter. Assenagon Asset Management S.A. owned 0.35% of Tango Therapeutics worth $14,868,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TRV GP IV LLC purchased a new position in Tango Therapeutics during the 2nd quarter worth approximately $120,181,383,000. BlackRock Inc. purchased a new stake in Tango Therapeutics in the second quarter valued at $388,826,000. Jupiter Topco LLC purchased a new stake in Tango Therapeutics in the second quarter valued at $157,989,000. Seven Fleet Capital Management LP grew its holdings in Tango Therapeutics by 302.2% during the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company's stock worth $95,661,000 after acquiring an additional 2,425,484 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at approximately $62,849,000. Hedge funds and other institutional investors own 78.99% of the company's stock.

Tango Therapeutics Stock Up 6.8%

Shares of TNGX opened at $23.53 on Tuesday. Tango Therapeutics, Inc. has a 52-week low of $6.69 and a 52-week high of $34.39. The firm's fifty day moving average is $23.79 and its two-hundred day moving average is $25.17. The stock has a market cap of $3.97 billion, a PE ratio of -27.68 and a beta of 1.17.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). As a group, research analysts anticipate that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $24.47, for a total transaction of $660,690.00. Following the completion of the sale, the insider owned 115,743 shares of the company's stock, valued at approximately $2,832,231.21. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica Newcomb sold 8,200 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $24.22, for a total transaction of $198,604.00. Following the sale, the insider directly owned 59,121 shares of the company's stock, valued at approximately $1,431,910.62. This represents a 12.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TNGX shares. Wall Street Zen cut shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Canaccord Genuity Group increased their target price on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Jefferies Financial Group upgraded Tango Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Mizuho upped their target price on Tango Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Finally, Guggenheim increased their target price on Tango Therapeutics from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.46.

Tango Therapeutics Profile

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for cancer. The company uses functional genomics and genetic screening to identify vulnerabilities in tumor cells, including dependencies created by tumor-suppressor gene loss, and to develop targeted therapies designed to selectively attack cancer cells.

Tango's pipeline includes small-molecule programs for genetically defined solid tumors. Its lead program, TNG462, is an MTA-cooperative PRMT5 inhibitor being developed for cancers with MTAP gene deletions.

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