Nuveen LLC Invests $277,000 in Tango Therapeutics, Inc. $TNGX

Key Points

• Nuveen LLC acquired a new stake in Tango Therapeutics, purchasing 202,183 shares valued at approximately $277,000, now owning 0.19% of the company's stock.
• Major shareholder Rock Ventures IV L.P. sold 1.1 million shares of Tango Therapeutics, resulting in a 6.52% decrease in their position, bringing their total to approximately $110.47 million.
• Tango Therapeutics reported a quarterly EPS of ($0.35), matching analysts' expectations, with revenue of $3.18 million compared to the consensus estimate of $6.41 million.

Nuveen LLC purchased a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 202,183 shares of the company's stock, valued at approximately $277,000. Nuveen LLC owned approximately 0.19% of Tango Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNGX. Invesco Ltd. raised its position in Tango Therapeutics by 138.8% in the first quarter. Invesco Ltd. now owns 70,517 shares of the company's stock valued at $97,000 after purchasing an additional 40,983 shares during the period. Deutsche Bank AG raised its holdings in shares of Tango Therapeutics by 46.7% in the 1st quarter. Deutsche Bank AG now owns 53,788 shares of the company's stock valued at $74,000 after buying an additional 17,135 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Tango Therapeutics by 6.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 548,014 shares of the company's stock valued at $751,000 after buying an additional 34,585 shares during the period. XTX Topco Ltd raised its holdings in shares of Tango Therapeutics by 115.7% in the 1st quarter. XTX Topco Ltd now owns 168,145 shares of the company's stock valued at $230,000 after buying an additional 90,208 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tango Therapeutics by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company's stock valued at $155,000 after buying an additional 10,213 shares during the period. Institutional investors and hedge funds own 78.99% of the company's stock.

Tango Therapeutics Price Performance

Tango Therapeutics stock traded down $0.51 during mid-day trading on Wednesday, hitting $6.31. 518,016 shares of the company were exchanged, compared to its average volume of 1,719,813. The company has a market capitalization of $701.94 million, a P/E ratio of -4.74 and a beta of 1.64. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $10.85. The business's 50 day simple moving average is $6.54 and its two-hundred day simple moving average is $3.79.

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

Analyst Ratings Changes

Several research firms have recently issued reports on TNGX. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $11.00 price objective for the company. Guggenheim upped their price objective on Tango Therapeutics from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Tango Therapeutics presently has an average rating of "Buy" and an average target price of $10.50.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 86,459 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $7.04, for a total value of $608,671.36. Following the completion of the sale, the insider owned 14,727,516 shares in the company, valued at $103,681,712.64. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,131,559 shares of company stock valued at $14,935,371 in the last three months. Corporate insiders own 7.50% of the company's stock.

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.