390,920 Shares in Tango Therapeutics, Inc. $TNGX Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 390,920 shares of the company's stock, valued at approximately $12,220,000. Bank of New York Mellon Corp owned 0.27% of Tango Therapeutics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after buying an additional 1,640 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Tango Therapeutics by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company's stock valued at $87,000 after acquiring an additional 2,065 shares during the last quarter. SG Americas Securities LLC grew its position in Tango Therapeutics by 10.2% during the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company's stock valued at $507,000 after acquiring an additional 2,251 shares during the period. Dimensional Fund Advisors LP grew its position in Tango Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company's stock valued at $10,237,000 after acquiring an additional 2,272 shares during the period. Finally, Barclays PLC increased its stake in Tango Therapeutics by 0.7% during the fourth quarter. Barclays PLC now owns 368,187 shares of the company's stock worth $3,262,000 after acquiring an additional 2,507 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wedbush raised their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Leerink Partners lifted their target price on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. UBS Group set a $55.00 price objective on shares of Tango Therapeutics in a research note on Thursday, May 14th. Canaccord Genuity Group upped their price objective on Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Tango Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $43.46.

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 stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at $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 is available through this hyperlink. 6.50% of the stock is owned by corporate insiders.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $22.35 on Wednesday. Tango Therapeutics, Inc. has a fifty-two week low of $6.25 and a fifty-two week high of $34.39. The company has a market cap of $3.77 billion, a PE ratio of -26.29 and a beta of 1.12. The stock's fifty day moving average price is $27.52 and its two-hundred day moving average price is $23.35.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings data 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 analysts predict that Tango Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

About Tango Therapeutics

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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