Tudor Investment Corp ET AL Acquires New Holdings in Tango Therapeutics, Inc. $TNGX

Key Points

• Tudor Investment Corp initiated a new position in Tango Therapeutics, acquiring 53,572 shares (~$450,000), while other institutions like Farallon increased holdings (now 10,757,000 shares, ~$90.4M); institutional investors and hedge funds own 78.99% of the stock.
• Multiple analysts raised price targets recently (Piper Sandler, Stifel, HC Wainwright, Guggenheim among them), leaving Tango with a consensus rating of “Moderate Buy” and an average price target of $20.67.
• TNGX shares opened at $25.33 (up ~5.3%) and trade near a 52-week high of $25.41 with a market cap of $3.61B, while insiders have sold ~172,884 shares (~$2.54M) in the last 90 days and currently own 7.5% of the company.

Tudor Investment Corp ET AL acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 53,572 shares of the company's stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNGX. Farallon Capital Management LLC grew its stake in shares of Tango Therapeutics by 17.5% in the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company's stock valued at $90,359,000 after buying an additional 1,600,000 shares during the period. Rafferty Asset Management LLC purchased a new position in shares of Tango Therapeutics during the 3rd quarter worth approximately $1,221,000. Great Lakes Advisors LLC purchased a new position in shares of Tango Therapeutics during the 3rd quarter worth approximately $3,560,000. Avoro Capital Advisors LLC purchased a new position in shares of Tango Therapeutics during the 3rd quarter worth approximately $4,578,000. Finally, Rhumbline Advisers boosted its position in shares of Tango Therapeutics by 68.1% during the 2nd quarter. Rhumbline Advisers now owns 112,273 shares of the company's stock worth $575,000 after purchasing an additional 45,467 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNGX has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of Tango Therapeutics from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. Stifel Nicolaus lifted their price target on shares of Tango Therapeutics from $15.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. HC Wainwright lifted their price target on shares of Tango Therapeutics from $13.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Finally, Guggenheim raised their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $20.67.

Tango Therapeutics Stock Up 5.3%

Tango Therapeutics stock opened at $25.33 on Thursday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -29.11 and a beta of 1.31. The firm has a fifty day moving average of $16.68 and a 200-day moving average of $11.94. Tango Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $25.41.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, Director Barbara Weber sold 30,519 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the sale, the director directly owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniella Beckman sold 10,317 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the transaction, the chief financial officer directly owned 184,297 shares in the company, valued at approximately $2,259,481.22. This trade represents a 5.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 172,884 shares of company stock valued at $2,538,342 in the last ninety days. Company insiders own 7.50% of the company's stock.

Tango Therapeutics 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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