Tango Therapeutics, Inc. (NASDAQ:TNGX) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its position in Tango Therapeutics by 115.7% in Q1, owning 168,145 shares valued at approximately $230,000.
• Analysts at Guggenheim raised their price target for Tango Therapeutics from $8.00 to $10.00 and issued a "buy" rating.
• Tango Therapeutics reported a revenue of $3.18 million for the latest quarter, underperforming the consensus estimate of $6.41 million.

XTX Topco Ltd increased its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 115.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,145 shares of the company's stock after acquiring an additional 90,208 shares during the quarter. XTX Topco Ltd owned approximately 0.16% of Tango Therapeutics worth $230,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TNGX. Stonebrook Private Inc. acquired a new position in Tango Therapeutics in the 4th quarter valued at $34,000. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics in the 4th quarter valued at $35,000. Sherbrooke Park Advisers LLC acquired a new position in Tango Therapeutics in the 4th quarter valued at $38,000. Squarepoint Ops LLC acquired a new position in Tango Therapeutics in the 4th quarter valued at $40,000. Finally, Price T Rowe Associates Inc. MD increased 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 buying an additional 4,813 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Guggenheim boosted their price objective on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $6.76 on Wednesday. The firm has a market cap of $752.12 million, a P/E ratio of -5.08 and a beta of 1.64. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $12.02. The firm's 50-day simple moving average is $5.70 and its 200-day simple moving average is $3.23.

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

About Tango Therapeutics

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.

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