Tidal Investments LLC Purchases Shares of 55,384 Tango Therapeutics, Inc. $TNGX

Key Points

• Tidal Investments acquired 55,384 shares of Tango Therapeutics worth approximately $1.73 million during the second quarter. Institutional investors collectively own 78.99% of TNGX.
• Tango Therapeutics reported a quarterly loss of $0.37 per share, missing analyst expectations of a $0.32 loss; analysts project a full-year loss of $1.41 per share.
• Analyst sentiment remains generally positive, with 13 Buy, two Hold, and one Sell rating and a consensus price target of $43.46, versus a recent share price of $23.49.

Tidal Investments LLC acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 55,384 shares of the company's stock, valued at approximately $1,731,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNGX. Nykredit A S acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at about $26,000. Allworth Financial LP acquired a new position in Tango Therapeutics in the second quarter worth about $35,000. Global Retirement Partners LLC bought a new position in Tango Therapeutics during the second quarter worth about $122,000. State of Wyoming bought a new position in Tango Therapeutics during the first quarter worth about $128,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $205,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Trading Up 0.6%

Shares of Tango Therapeutics stock opened at $23.49 on Friday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -27.63 and a beta of 1.12. The firm's 50-day moving average price is $25.83 and its two-hundred day moving average price is $24.26. Tango Therapeutics, Inc. has a 1-year low of $6.69 and a 1-year high of $34.39.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TNGX. Weiss Ratings upgraded Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. B. Riley Financial restated a "buy" rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Wall Street Zen lowered Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group upgraded Tango Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Finally, Canaccord Genuity Group lifted their price objective on Tango Therapeutics from $42.00 to $46.00 and gave the company a "buy" rating in a report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.46.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the transaction, the insider owned 115,743 shares in the company, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.50% of the company's stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango's research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.

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