Tango Therapeutics, Inc. $TNGX Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 41.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,146 shares of the company's stock after selling 45,302 shares during the period. American Century Companies Inc. owned about 0.06% of Tango Therapeutics worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $65,000 after buying an additional 4,813 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Tango Therapeutics by 24.1% in the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after buying an additional 7,128 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Tango Therapeutics by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after buying an additional 7,599 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Tango Therapeutics by 9.9% in the 1st 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 in the last quarter. Finally, Stonebrook Private Inc. purchased a new position in Tango Therapeutics in the 4th quarter valued at about $34,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Down 6.7%

Shares of TNGX stock traded down $0.46 during trading hours on Wednesday, hitting $6.36. 1,362,282 shares of the company were exchanged, compared to its average volume of 1,725,006. The firm has a market cap of $707.61 million, a PE ratio of -4.78 and a beta of 1.64. Tango Therapeutics, Inc. has a 1 year low of $1.03 and a 1 year high of $10.85. The firm has a fifty day moving average of $6.54 and a 200 day moving average of $3.79.

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

Analyst Ratings Changes

TNGX has been the topic of a number of recent research reports. Guggenheim upped their target price 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. Piper Sandler initiated coverage on shares of Tango Therapeutics in a research note on Monday, August 18th. They issued an "overweight" rating and a $11.00 target price for the company. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $10.50.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 86,459 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $7.04, for a total transaction of $608,671.36. Following the completion of the sale, the insider owned 14,727,516 shares of the company's stock, valued at approximately $103,681,712.64. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 2,131,559 shares of company stock worth $14,935,371. 7.50% of the stock is currently owned by corporate insiders.

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.