Walleye Capital LLC Sells 75,255 Shares of Tango Therapeutics, Inc. $TNGX

Key Points

• Walleye Capital LLC reduced its stake in Tango Therapeutics, Inc. by 26.2%, selling 75,255 shares to hold a total of 211,797 shares worth approximately $290,000.
• Major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares at an average price of $7.00, resulting in a total value of over $2.1 million and decreasing their position by 1.92%.
• Tango Therapeutics reported a negative net margin of 599.11% and earnings per share of ($0.35), with analysts predicting a consensus target price of $10.50 for the stock.

Walleye Capital LLC lowered its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 211,797 shares of the company's stock after selling 75,255 shares during the period. Walleye Capital LLC owned about 0.20% of Tango Therapeutics worth $290,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Tango Therapeutics by 24.1% during the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock valued at $113,000 after purchasing an additional 7,128 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of Tango Therapeutics during the 4th quarter valued at $35,000. Squarepoint Ops LLC bought a new position in shares of Tango Therapeutics during the 4th quarter valued at $40,000. Northern Trust Corp grew its holdings in shares of Tango Therapeutics by 7.1% during the 4th quarter. Northern Trust Corp now owns 513,079 shares of the company's stock valued at $1,585,000 after purchasing an additional 33,829 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Tango Therapeutics in the 4th quarter worth $771,000. Institutional investors own 78.99% of the company's stock.

Insider Activity at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $7.00, for a total value of $2,115,358.00. Following the completion of the sale, the insider directly owned 15,456,881 shares of the company's stock, valued at approximately $108,198,167. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.50% of the company's stock.

Tango Therapeutics Trading Up 0.6%

NASDAQ:TNGX opened at $6.70 on Thursday. The company has a 50-day moving average price of $6.41 and a 200-day moving average price of $3.66. Tango Therapeutics, Inc. has a 12 month low of $1.03 and a 12 month high of $11.92. The stock has a market cap of $745.44 million, a price-to-earnings ratio of -5.04 and a beta of 1.64.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim raised their price target on shares of Tango Therapeutics from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Piper Sandler assumed coverage on shares of Tango Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $11.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $10.50.

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.

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