Deutsche Bank AG Acquires Shares of 144,477 Tango Therapeutics, Inc. $TNGX

Key Points

• Deutsche Bank initiated a position in Tango Therapeutics, buying 144,477 shares valued at approximately $4.5 million. Institutional investors collectively own 78.99% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $43.46; several firms recently raised their targets, although Raymond James downgraded the stock to Hold.
• Tango Therapeutics reported quarterly EPS of -$0.37, missing estimates by $0.05. The stock opened at $24.77, compared with a 52-week range of $6.25 to $34.39.

Deutsche Bank AG purchased a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 144,477 shares of the company's stock, valued at approximately $4,516,000. Deutsche Bank AG owned about 0.10% of Tango Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TNGX. Farallon Capital Management LLC increased its stake in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company's stock valued at $115,724,000 after purchasing an additional 2,304,411 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake 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 worth $93,986,000 after buying an additional 8,096,924 shares in the last quarter. Siren L.L.C. grew its holdings in shares of Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company's stock valued at $72,345,000 after buying an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock valued at $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Finally, State Street Corp increased its holdings in Tango Therapeutics by 84.8% in the 4th quarter. State Street Corp now owns 6,218,567 shares of the company's stock worth $55,097,000 after buying an additional 2,853,362 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

TNGX has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of Tango Therapeutics from $42.00 to $46.00 and gave the company a "buy" rating in a report on Monday, June 29th. Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the stock an "outperform" rating in a research report on Monday, June 8th. HC Wainwright lifted their target price on shares of Tango Therapeutics from $66.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Raymond James Financial lowered shares of Tango Therapeutics to a "hold" rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group raised Tango Therapeutics from a "hold" rating to a "buy" rating and increased their price target for the company from $27.00 to $60.00 in a report on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.46.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.50% of the company's stock.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $24.77 on Wednesday. The firm has a market capitalization of $4.18 billion, a P/E ratio of -29.14 and a beta of 1.16. Tango Therapeutics, Inc. has a 1-year low of $6.25 and a 1-year high of $34.39. The company's 50-day moving average is $28.03 and its 200 day moving average is $22.95.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Research analysts anticipate that Tango Therapeutics, Inc. will post -1.38 earnings per share 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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