345,156 Shares in Tango Therapeutics, Inc. $TNGX Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 345,156 shares of Tango Therapeutics in the second quarter, worth approximately $10.79 million and representing a 0.24% stake. Institutional investors collectively own 78.99% of the company.
• Tango shares opened at $27.67, compared with a 52-week range of $6.25 to $34.39. The company reported quarterly EPS of negative $0.32, in line with analyst expectations.
• Analyst sentiment remains broadly positive, with 13 Buy, two Hold, and one Sell rating; the consensus is “Moderate Buy” with an average price target of $42.15. Insider Adam Crystal separately sold 27,000 shares for about $798,930.

Assenagon Asset Management S.A. acquired a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 345,156 shares of the company's stock, valued at approximately $10,790,000. Assenagon Asset Management S.A. owned 0.24% of Tango Therapeutics as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its stake in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock valued at $35,000 after purchasing an additional 15,037 shares during the period. Global Retirement Partners LLC bought a new position in Tango Therapeutics in the 4th quarter worth about $35,000. Legal & General Group Plc grew its stake in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after acquiring an additional 1,640 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock worth $40,000 after acquiring an additional 4,464 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Tango Therapeutics during the fourth quarter worth approximately $40,000. Institutional investors own 78.99% of the company's stock.

Insider Activity

In other news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider owned 115,743 shares of the company's stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.50% of the stock is currently owned by insiders.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $27.67 on Tuesday. The stock has a market capitalization of $4.00 billion, a P/E ratio of -33.34 and a beta of 1.16. Tango Therapeutics, Inc. has a 1-year low of $6.25 and a 1-year high of $34.39. The business has a fifty day moving average price of $28.56 and a 200 day moving average price of $21.93.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). As a group, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Tango Therapeutics from $24.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Mizuho lifted their target price on Tango Therapeutics from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. Weiss Ratings cut Tango Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, June 29th. Piper Sandler cut Tango Therapeutics from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $16.00 to $24.00 in a report on Thursday, May 14th. Finally, Canaccord Genuity Group increased their price target on Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tango Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $42.15.

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.

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