Rafferty Asset Management LLC Purchases New Position in Tango Therapeutics, Inc. $TNGX

Key Points

• Rafferty Asset Management acquired 145,316 shares of Tango Therapeutics (~$1.22M) in Q3, giving it roughly 0.11% ownership while institutional investors hold about 78.99% of the company.
• Insiders sold a total of 113,633 shares (~$1.42M) in the last quarter, including Adam Crystal (54,345 shares at $12.77) and CFO Daniella Beckman (10,317 shares at $12.26), reducing insider ownership to ~7.50%.
• TNGX shares opened at $16.80 (up ~36%), the company has a market cap of about $2.26B, and analysts have a consensus "Moderate Buy" rating with an average price target of $15.86.

Rafferty Asset Management LLC acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 145,316 shares of the company's stock, valued at approximately $1,221,000. Rafferty Asset Management LLC owned approximately 0.11% of Tango Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its position in shares of Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company's stock worth $25,000 after acquiring an additional 3,167 shares in the last quarter. Legal & General Group Plc grew its position in shares of Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock valued at $36,000 after purchasing an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Tango Therapeutics by 78.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company's stock valued at $40,000 after purchasing an additional 3,452 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Tango Therapeutics by 44.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company's stock worth $49,000 after purchasing an additional 2,907 shares in the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in Tango Therapeutics in the 2nd quarter worth about $51,000. Institutional investors own 78.99% of the company's stock.

Insider Transactions at Tango Therapeutics

In related news, insider Adam Crystal sold 54,345 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the transaction, the insider directly owned 132,873 shares in the company, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniella Beckman sold 10,317 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the transaction, the chief financial officer directly owned 184,297 shares in the company, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,633 shares of company stock valued at $1,420,857 in the last quarter. Insiders own 7.50% of the company's stock.

Tango Therapeutics Trading Up 36.0%

TNGX stock opened at $16.80 on Friday. The company's 50 day moving average is $11.70 and its 200 day moving average is $9.37. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -18.06 and a beta of 1.76. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $16.97.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Tango Therapeutics in a report on Wednesday, December 3rd. They set a "buy" rating and a $15.00 target price for the company. Wall Street Zen upgraded shares of Tango Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Piper Sandler boosted their price objective on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Mizuho started coverage on shares of Tango Therapeutics in a research note on Monday, February 23rd. They issued an "outperform" rating and a $19.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tango Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $15.86.

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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