Stempoint Capital LP Acquires Shares of 200,919 Tango Therapeutics, Inc. $TNGX

Key Points

• Stempoint Capital acquired 200,919 shares of Tango Therapeutics worth approximately $4.2 million, while institutional investors collectively own 78.99% of the company.
• TNGX shares opened at $25.85 after falling 3.0%; the stock has traded between $5.77 and $34.39 over the past year. Tango reported quarterly EPS of -$0.32, in line with analyst expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $42.15. Several firms recently raised their targets, although insiders have sold 81,000 shares over the past 90 days.

Stempoint Capital LP acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 200,919 shares of the company's stock, valued at approximately $4,203,000. Stempoint Capital LP owned approximately 0.14% of Tango Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew 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 valued at $93,986,000 after buying an additional 8,096,924 shares in the last quarter. Caligan Partners LP acquired a new position in Tango Therapeutics during the 4th quarter worth approximately $33,047,000. Goldman Sachs Group Inc. lifted its position in Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company's stock worth $43,790,000 after acquiring an additional 3,432,939 shares in the last quarter. Logos Global Management LP boosted its holdings in Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company's stock worth $37,212,000 after acquiring an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new position in Tango Therapeutics in the 3rd quarter worth approximately $25,924,000. Hedge funds and other institutional investors own 78.99% of the company's stock.

Tango Therapeutics Trading Down 3.0%

TNGX stock opened at $25.85 on Thursday. Tango Therapeutics, Inc. has a twelve month low of $5.77 and a twelve month high of $34.39. The company has a market capitalization of $3.74 billion, a P/E ratio of -31.14 and a beta of 1.12. The firm has a 50 day simple moving average of $27.42 and a 200-day simple moving average of $21.03.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). On average, research analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Analyst Upgrades and Downgrades

TNGX has been the topic of a number of analyst reports. Wedbush lifted their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. UBS Group set a $55.00 target price on shares of Tango Therapeutics in a research note on Thursday, May 14th. Canaccord Genuity Group raised their price target 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. Citigroup reaffirmed a "buy" rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Finally, Leerink Partners boosted their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.15.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider owned 115,743 shares of the company's stock, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 81,000 shares of company stock valued at $1,989,630. 6.50% of the stock is currently owned by insiders.

Tango Therapeutics Company 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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