Tango Therapeutics, Inc. $TNGX Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Tango Therapeutics stake by 68.8% in the second quarter, holding 127,801 shares worth approximately $4.0 million. Institutional investors collectively own 78.99% of TNGX.
• Tango shares opened at $24.00, with a market capitalization of about $4.05 billion, after the stock recently rose 5.7%. The company reported a quarterly loss of $0.37 per share, missing analysts’ $0.32-loss estimate.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $43.46 target price. However, an insider recently sold 27,000 shares at an average price of $29.59.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 68.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,801 shares of the company's stock after purchasing an additional 52,084 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.08% of Tango Therapeutics worth $3,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $35,000. Global Retirement Partners LLC acquired a new position in Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd lifted its position in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after acquiring an additional 15,037 shares in the last quarter. Legal & General Group Plc boosted its holdings in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after acquiring an additional 1,640 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Tango Therapeutics in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 78.99% of the company's stock.

Tango Therapeutics Stock Up 5.7%

Shares of TNGX opened at $24.00 on Thursday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -28.23 and a beta of 1.12. The business's 50 day moving average is $26.59 and its two-hundred day moving average is $23.78. Tango Therapeutics, Inc. has a 52-week low of $6.25 and a 52-week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). On average, equities analysts expect that Tango Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares of the company's stock, valued at $3,424,835.37. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TNGX shares. Piper Sandler lowered shares of Tango Therapeutics from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $16.00 to $24.00 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. Wall Street Zen downgraded shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the company an "outperform" rating in a research report on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tango Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $43.46.

About Tango Therapeutics

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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