Tango Therapeutics, Inc. $TNGX Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has significantly reduced its stake in Tango Therapeutics, Inc. by 59.6%, now holding 65,560 shares valued at approximately $90,000.
• Deutsche Bank AG increased its position by 24.1% in the fourth quarter, while other institutions also adjusted their holdings, with institutional investors owning 78.99% of the company.
• Tango Therapeutics reported a negative EPS of ($0.35) meeting estimates, but revenue fell short at $3.18 million, compared to expectations of $6.41 million.

Algert Global LLC trimmed its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 59.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,560 shares of the company's stock after selling 96,740 shares during the quarter. Algert Global LLC owned 0.06% of Tango Therapeutics worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Tango Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after acquiring an additional 7,599 shares during the period. Renaissance Technologies LLC purchased a new stake in Tango Therapeutics during the 4th quarter worth approximately $66,000. Dimensional Fund Advisors LP increased its stake in Tango Therapeutics by 83.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 662,776 shares of the company's stock worth $2,048,000 after buying an additional 302,087 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Tango Therapeutics by 29.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock worth $65,000 after buying an additional 4,813 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in shares of Tango Therapeutics by 376.3% in the fourth quarter. Nebula Research & Development LLC now owns 51,924 shares of the company's stock valued at $160,000 after purchasing an additional 41,023 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Performance

Shares of TNGX stock traded down $0.08 during mid-day trading on Thursday, hitting $6.82. 658,757 shares of the stock were exchanged, compared to its average volume of 1,783,761. The stock's fifty day simple moving average is $6.29 and its two-hundred day simple moving average is $3.54. The stock has a market capitalization of $758.79 million, a price-to-earnings ratio of -5.13 and a beta of 1.64. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $11.92.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $3.18 million for the quarter, compared to analysts' expectations of $6.41 million. Tango Therapeutics had a negative return on equity of 79.72% and a negative net margin of 599.11%. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares of Tango Therapeutics stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $7.00, for a total transaction of $2,115,358.00. Following the completion of the sale, the insider directly owned 15,456,881 shares in the company, valued at approximately $108,198,167. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.50% of the company's stock.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of analyst reports. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, August 18th. They issued an "overweight" rating and a $11.00 price target for the company. Guggenheim increased their price objective on Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $10.50.

Tango Therapeutics Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.