Walleye Capital LLC bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 192,270 shares of the company's stock, valued at approximately $6,010,000. Walleye Capital LLC owned approximately 0.13% of Tango Therapeutics as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of TNGX. Mass General Brigham Inc purchased a new position in Tango Therapeutics during the fourth quarter valued at approximately $3,138,000. Candriam S.C.A. boosted its holdings in Tango Therapeutics by 79.1% in the 1st quarter. Candriam S.C.A. now owns 1,269,246 shares of the company's stock valued at $26,553,000 after purchasing an additional 560,434 shares during the period. Assenagon Asset Management S.A. bought a new position in Tango Therapeutics in the 2nd quarter valued at $10,790,000. Tema ETFs LLC purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at $1,731,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $1,906,000. 78.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Tango Therapeutics in a report on Monday, April 27th. Guggenheim boosted their target price on Tango Therapeutics from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the stock an "outperform" rating in a research note on Monday, June 8th. JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a report on Wednesday, July 15th. They issued an "overweight" rating and a $46.00 price target on the stock. Finally, HC Wainwright lifted their price target on Tango Therapeutics from $27.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Thirteen investment 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.31.
Check Out Our Latest Stock Report on TNGX
Tango Therapeutics Price Performance
Shares of NASDAQ:TNGX opened at $25.60 on Friday. The company's fifty day moving average price is $28.92 and its 200-day moving average price is $22.24. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -30.12 and a beta of 1.16. Tango Therapeutics, Inc. has a one year low of $6.25 and a one year high of $34.39.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, equities research analysts expect that Tango Therapeutics, Inc. will post -1.34 EPS for the current year.
Insiders Place Their Bets
In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the sale, the insider owned 115,743 shares of the company's stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.50% of the stock is owned by insiders.
About Tango Therapeutics
(
Free Report)
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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