Connor Clark & Lunn Investment Management Ltd. bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 636,070 shares of the company's stock, valued at approximately $19,884,000. Connor Clark & Lunn Investment Management Ltd. owned 0.44% of Tango Therapeutics at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in TNGX. Invesco Ltd. boosted its holdings in shares of Tango Therapeutics by 138.8% during the first quarter. Invesco Ltd. now owns 70,517 shares of the company's stock valued at $97,000 after acquiring an additional 40,983 shares during the period. AQR Capital Management LLC bought a new stake in Tango Therapeutics in the 1st quarter valued at about $195,000. Dynamic Technology Lab Private Ltd lifted its position in Tango Therapeutics by 139.7% in the 1st 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 last quarter. Woodline Partners LP boosted its stake in Tango Therapeutics by 28.3% during the 1st quarter. Woodline Partners LP now owns 506,188 shares of the company's stock valued at $693,000 after purchasing an additional 111,791 shares during the period. Finally, Jane Street Group LLC boosted its stake in Tango Therapeutics by 270.6% during the 1st quarter. Jane Street Group LLC now owns 352,897 shares of the company's stock valued at $483,000 after purchasing an additional 257,668 shares during the period. 78.99% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company's stock, valued at $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
TNGX has been the topic of several analyst reports. Wall Street Zen lowered shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Guggenheim boosted their price objective on Tango Therapeutics from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Canaccord Genuity Group increased 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. HC Wainwright raised their price target on Tango Therapeutics from $66.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Finally, Wedbush raised their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.46.
View Our Latest Report on Tango Therapeutics
Tango Therapeutics Trading Up 1.1%
Shares of NASDAQ TNGX opened at $24.77 on Wednesday. Tango Therapeutics, Inc. has a twelve month low of $6.25 and a twelve month high of $34.39. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -29.14 and a beta of 1.16. The firm has a 50-day moving average of $28.03 and a two-hundred day moving average of $22.95.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted 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). As a group, research analysts predict that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current year.
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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