Tango Therapeutics, Inc. $TNGX Stock Holdings Trimmed by Janus Henderson Group PLC

Key Points

• Janus Henderson cut its Tango Therapeutics stake by 9.4% in the first quarter, selling 249,265 shares and retaining 2.39 million shares valued at approximately $50.1 million. Institutional investors collectively own about 79% of TNGX.
• Analyst sentiment remains positive, with 13 Buy ratings, two Holds and one Sell. The stock has a “Moderate Buy” consensus rating and an average price target of $42.15.
• TNGX opened at $27.18 after recently trading down 1.4%; the company reported a quarterly loss of $0.32 per share, in line with estimates. Insider Adam Crystal also sold 27,000 shares at an average price of $29.59.

Janus Henderson Group PLC lessened its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 9.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,394,972 shares of the company's stock after selling 249,265 shares during the quarter. Janus Henderson Group PLC owned about 1.66% of Tango Therapeutics worth $50,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter valued at $35,000. Dynamic Technology Lab Private Ltd lifted its holdings in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc lifted its holdings in Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after purchasing an additional 1,640 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Tango Therapeutics in the 4th quarter valued at about $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock valued at $40,000 after buying an additional 4,464 shares in the last quarter. Institutional investors own 78.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on TNGX. Jefferies Financial Group upgraded shares of Tango Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $27.00 to $60.00 in a research report on Thursday, June 25th. Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the company an "outperform" rating in a report on Monday, June 8th. JPMorgan Chase & Co. started coverage on shares of Tango Therapeutics in a research note on Wednesday, July 15th. They set an "overweight" rating and a $46.00 price objective on the stock. B. Riley Financial reissued a "buy" rating on shares of Tango Therapeutics in a report on Monday, June 8th. Finally, Stifel Nicolaus upped their target price on Tango Therapeutics from $24.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.15.

Tango Therapeutics Trading Down 1.4%

Shares of Tango Therapeutics stock opened at $27.18 on Friday. The company's 50-day moving average price is $27.68 and its two-hundred day moving average price is $21.18. Tango Therapeutics, Inc. has a 52 week low of $5.77 and a 52 week high of $34.39. The stock has a market cap of $3.93 billion, a PE ratio of -32.75 and a beta of 1.12.

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

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.50% of the stock is currently owned by corporate 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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