ADAR1 Capital Management LLC Sells 90,021 Shares of Tango Therapeutics, Inc. $TNGX

ADAR1 Capital Management LLC lessened its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 64.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company's stock after selling 90,021 shares during the period. ADAR1 Capital Management LLC's holdings in Tango Therapeutics were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company's stock valued at $93,986,000 after buying an additional 8,096,924 shares during the last quarter. Caligan Partners LP acquired a new position in shares of Tango Therapeutics during the 4th quarter worth about $33,047,000. Goldman Sachs Group Inc. boosted its stake in shares of Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company's stock worth $43,790,000 after buying an additional 3,432,939 shares during the last quarter. Logos Global Management LP grew its holdings in shares of Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company's stock valued at $37,212,000 after acquiring an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new position in shares of Tango Therapeutics in the 3rd quarter valued at about $25,924,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Leerink Partners boosted their price target on Tango Therapeutics from $55.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Wedbush raised their target price 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. Raymond James Financial cut shares of Tango Therapeutics to a "hold" rating in a research note on Thursday, June 25th. Stifel Nicolaus boosted their target price on shares of Tango Therapeutics from $24.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Canaccord Genuity Group upped their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.15.

Insiders Place Their Bets

In other news, insider Adam Crystal sold 27,000 shares of the business's stock in a transaction that occurred on 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 owned 115,743 shares in the company, 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 available at this hyperlink. In the last quarter, insiders sold 81,000 shares of company stock worth $1,989,630. 6.50% of the stock is currently owned by company insiders.

Tango Therapeutics Stock Down 3.0%

Tango Therapeutics stock opened at $25.85 on Thursday. Tango Therapeutics, Inc. has a 12-month low of $5.77 and a 12-month high of $34.39. The business's 50-day moving average price is $27.42 and its two-hundred day moving average price is $21.03. The stock has a market cap of $3.74 billion, a PE ratio of -31.14 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.32). As a group, analysts expect that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

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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