Algert Global LLC Grows Position in Tango Therapeutics, Inc. $TNGX

Key Points

• Institutional ownership increased: Algert Global raised its Tango Therapeutics stake by 86.5% to 271,570 shares, while hedge funds and other institutions collectively owned 78.99% of TNGX.
• Analysts remain broadly bullish: Thirteen analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $43.46. Jefferies upgraded the shares to Buy and raised its target to $60.
• Recent performance showed mixed signals: TNGX opened at $25.47 after reporting a quarterly loss of $0.37 per share, missing estimates of a $0.32 loss; insider Adam Crystal also sold 27,000 shares at an average price of $29.59.

Algert Global LLC boosted its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 86.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,570 shares of the company's stock after purchasing an additional 125,930 shares during the quarter. Algert Global LLC owned about 0.16% of Tango Therapeutics worth $8,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth about $388,826,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Tango Therapeutics by 322.5% in the fourth 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 acquiring an additional 8,096,924 shares in the last quarter. TRV GP IV LLC purchased a new stake in Tango Therapeutics in the second quarter worth about $120,181,383,000. Caligan Partners LP bought a new stake in Tango Therapeutics during the 4th quarter valued at $33,047,000. Finally, Goldman Sachs Group Inc. grew its stake in Tango Therapeutics by 227.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company's stock valued at $43,790,000 after purchasing an additional 3,432,939 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James Financial cut shares of Tango Therapeutics to a "hold" rating in a report on Thursday, June 25th. Wolfe Research set a $35.00 price objective on Tango Therapeutics and gave the company an "outperform" rating in a research report on Monday, June 8th. JPMorgan Chase & Co. started coverage on Tango Therapeutics in a research note on Wednesday, July 15th. They set an "overweight" rating and a $46.00 price objective for the company. Jefferies Financial Group upgraded Tango Therapeutics from a "hold" rating to a "buy" rating and raised their price objective for the company from $27.00 to $60.00 in a report on Thursday, June 25th. Finally, Guggenheim upped their price target on Tango Therapeutics from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.46.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares of the company's stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.50% of the company's stock.

Tango Therapeutics Trading Up 2.8%

Shares of NASDAQ:TNGX opened at $25.47 on Thursday. The firm has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $23.04. The company has a market capitalization of $4.29 billion, a PE ratio of -29.96 and a beta of 1.16. Tango Therapeutics, Inc. has a twelve month low of $6.25 and a twelve month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.38 EPS for the current fiscal 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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