600,834 Shares of Tango Therapeutics, Inc. $TNGX Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 600,834 shares of Tango Therapeutics in the second quarter, worth approximately $18.8 million. Institutional investors collectively own 78.99% of the company.
• Analyst sentiment is generally positive, with 13 Buy ratings, two Holds and one Sell; the consensus rating is Moderate Buy with a $43.46 price target.
• Tango Therapeutics reported a quarterly loss of $0.37 per share, missing estimates by $0.05. The stock recently opened at $24.63, within a 52-week range of $6.69 to $34.39.

Bank of America Corp DE purchased a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 600,834 shares of the company's stock, valued at approximately $18,782,000. Bank of America Corp DE owned approximately 0.36% of Tango Therapeutics as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boone Capital Management LLC bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $14,242,000. Jupiter Topco LLC acquired a new position in shares of Tango Therapeutics in the second quarter valued at $157,989,000. ADAR1 Capital Management LLC bought a new position in Tango Therapeutics in the second quarter worth $2,400,000. Legal & General Group Plc bought a new position in Tango Therapeutics in the second quarter worth $2,677,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Tango Therapeutics during the second quarter worth $5,665,000. Institutional investors own 78.99% of the company's stock.

Analysts Set New Price Targets

TNGX has been the topic of several analyst reports. HC Wainwright boosted their price target on shares of Tango Therapeutics from $66.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Canaccord Genuity Group raised their price objective on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Wall Street Zen lowered shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Leerink Partners increased their price target on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.46.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $24.63 on Friday. The stock has a fifty day moving average price of $25.27 and a two-hundred day moving average price of $24.61. Tango Therapeutics, Inc. has a 52-week low of $6.69 and a 52-week high of $34.39. The firm has a market capitalization of $4.15 billion, a P/E ratio of -28.98 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Insider Activity

In other Tango Therapeutics news, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $798,930.00. Following the sale, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.50% of the company's stock.

About Tango Therapeutics

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango's research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.

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