Nuveen LLC Purchases New Stake 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 bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of TNGX. Stonebrook Private Inc. bought a new stake in Tango Therapeutics in the 4th quarter valued at approximately $34,000. Ameriprise Financial Inc. bought a new stake in Tango Therapeutics in the 4th quarter valued at approximately $35,000. Sherbrooke Park Advisers LLC bought a new stake in Tango Therapeutics in the 4th quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new stake in Tango Therapeutics in the 4th quarter valued at approximately $40,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tango Therapeutics by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after acquiring an additional 4,813 shares in the last quarter. Institutional investors own 78.99% of the company's stock.

Insiders Place Their Bets

In related 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 sale, the insider owned 14,727,516 shares in the company, valued at approximately $103,681,712.64. This represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 2,131,559 shares of company stock valued at $14,935,371. 7.50% of the stock is currently owned by corporate insiders.

Tango Therapeutics Trading Up 7.5%

Shares of Tango Therapeutics stock traded up $0.48 on Thursday, reaching $6.84. 1,232,389 shares of the company were exchanged, compared to its average volume of 1,308,366. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $10.85. The company has a market capitalization of $761.02 million, a price-to-earnings ratio of -5.14 and a beta of 1.64. The company has a 50-day moving average of $6.58 and a 200 day moving average of $3.84.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $3.18 million for the quarter, compared to analysts' expectations of $6.41 million. Analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on TNGX. Piper Sandler initiated coverage on Tango Therapeutics in a research note on Monday, August 18th. They issued an "overweight" rating and a $11.00 target price on the stock. Guggenheim upped their price objective on Tango Therapeutics from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of "Buy" and an average target price of $10.50.

Tango Therapeutics Company 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.