Candriam S.C.A. Purchases 560,434 Shares of Tango Therapeutics, Inc. $TNGX

Key Points

• Candriam S.C.A. boosted its stake in Tango Therapeutics by 79.1% in the first quarter, buying 560,434 additional shares and bringing its total holdings to 1,269,246 shares valued at about $26.6 million.
• Institutional ownership remains heavy, with investors such as Farallon, Adage Capital, Vanguard, and State Street also increasing positions; institutions now hold 78.99% of the company, while insiders own 6.50%.
• TNGX shares rose 1.8% to $31.06, near their 52-week high of $34.39, and analysts currently rate the stock a consensus “Moderate Buy” with a target price of $41.50.

Candriam S.C.A. increased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 79.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,269,246 shares of the company's stock after buying an additional 560,434 shares during the period. Candriam S.C.A. owned 0.88% of Tango Therapeutics worth $26,553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Farallon Capital Management LLC grew its holdings in Tango Therapeutics by 21.4% in the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company's stock valued at $115,724,000 after buying an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in 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 during the period. Siren L.L.C. raised its holdings in shares of Tango Therapeutics by 38.8% in the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company's stock worth $72,345,000 after buying an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock worth $59,814,000 after purchasing an additional 1,698,974 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Tango Therapeutics by 84.8% in the fourth quarter. State Street Corp now owns 6,218,567 shares of the company's stock valued at $55,097,000 after acquiring an additional 2,853,362 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction 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 approximately $3,424,835.37. This trade represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 119,460 shares of company stock valued at $2,951,130. Company insiders own 6.50% of the company's stock.

Tango Therapeutics Trading Up 1.8%

Shares of NASDAQ TNGX traded up $0.54 during mid-day trading on Friday, hitting $31.06. The company had a trading volume of 3,372,013 shares, compared to its average volume of 4,826,892. Tango Therapeutics, Inc. has a one year low of $5.75 and a one year high of $34.39. The company has a market capitalization of $4.49 billion, a PE ratio of -37.42 and a beta of 1.12. The firm has a 50-day simple moving average of $26.09 and a two-hundred day simple moving average of $19.25.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting analysts' consensus estimates of ($0.32). Sell-side analysts expect that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

TNGX has been the subject of several research analyst reports. Piper Sandler cut shares of Tango Therapeutics from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $16.00 to $24.00 in a research report on Thursday, May 14th. Jefferies Financial Group raised shares of Tango Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $27.00 to $60.00 in a report on Thursday, June 25th. Mizuho set a $36.00 price objective on Tango Therapeutics in a report on Monday, June 8th. B. Riley Financial reissued a "buy" rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Finally, Citigroup reissued a "buy" rating on shares of Tango Therapeutics in a report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.

About Tango Therapeutics

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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