Tango Therapeutics, Inc. $TNGX Stake Boosted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Tango Therapeutics by 2,376.2%, acquiring an additional 49,116 shares, bringing its total holdings to 51,183 shares valued at approximately $73,000.
• Insider Rock Ventures Iv L.P. sold 1,100,000 shares at an average price of $7.01, decreasing its ownership by 6.52% and resulting in a post-sale valuation of about $110 million.
• Wall Street analysts have a consensus "Buy" rating for Tango Therapeutics, with target prices ranging from $10.00 to $11.00, highlighting a strong investment sentiment in the stock.

Russell Investments Group Ltd. lifted its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 2,376.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,183 shares of the company's stock after purchasing an additional 49,116 shares during the period. Russell Investments Group Ltd.'s holdings in Tango Therapeutics were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Stonebrook Private Inc. purchased a new position in Tango Therapeutics during the fourth quarter worth about $34,000. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics in the 4th quarter valued at approximately $35,000. Sherbrooke Park Advisers LLC bought a new stake in Tango Therapeutics during the 4th quarter worth approximately $38,000. Squarepoint Ops LLC bought a new position in shares of Tango Therapeutics in the 4th quarter worth $40,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Tango Therapeutics by 29.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after purchasing an additional 4,813 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Trading Up 0.8%

TNGX stock traded up $0.06 during midday trading on Monday, reaching $7.00. The company had a trading volume of 696,314 shares, compared to its average volume of 1,726,271. Tango Therapeutics, Inc. has a 1 year low of $1.03 and a 1 year high of $10.85. The company has a 50 day moving average of $6.48 and a two-hundred day moving average of $3.74. The company has a market capitalization of $778.26 million, a P/E ratio of -5.25 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). The company had revenue of $3.18 million during the quarter, compared to analysts' expectations of $6.41 million. Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. On average, sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Insider Activity at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $7.00, for a total transaction of $2,115,358.00. Following the completion of the sale, the insider owned 15,456,881 shares of the company's stock, valued at $108,198,167. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler began coverage on Tango Therapeutics in a research note on Monday, August 18th. They set an "overweight" rating and a $11.00 target price for the company. Guggenheim increased their price target on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tango Therapeutics presently has an average rating of "Buy" and an average price target of $10.50.

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.