XTX Topco Ltd Grows Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

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 grew its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 115.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,145 shares of the company's stock after acquiring an additional 90,208 shares during the quarter. XTX Topco Ltd owned about 0.16% of Tango Therapeutics worth $230,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Tango Therapeutics by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company's stock valued at $155,000 after purchasing an additional 10,213 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Tango Therapeutics by 274.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 65,327 shares of the company's stock valued at $89,000 after buying an additional 47,901 shares during the period. Woodline Partners LP bought a new stake in shares of Tango Therapeutics in the fourth quarter worth $1,219,000. Squarepoint Ops LLC bought a new position in Tango Therapeutics in the fourth quarter valued at about $40,000. Finally, Two Sigma Advisers LP purchased a new position in Tango Therapeutics in the fourth quarter worth about $81,000. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Stock Down 2.2%

NASDAQ:TNGX traded down $0.15 during mid-day trading on Friday, hitting $6.77. 1,017,497 shares of the company traded hands, compared to its average volume of 1,828,687. The stock's fifty day moving average price is $5.89 and its 200-day moving average price is $3.30. The firm has a market cap of $753.23 million, a price-to-earnings ratio of -5.09 and a beta of 1.64. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $12.02.

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, meeting 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 during the quarter, compared to the consensus estimate of $6.41 million. Equities analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

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

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.