Vanguard Group Inc. Purchases 197,624 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Vanguard Group Inc. lifted its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,939,843 shares of the company's stock after acquiring an additional 197,624 shares during the quarter. Vanguard Group Inc. owned about 2.88% of Tango Therapeutics worth $33,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in shares of Tango Therapeutics during the third quarter valued at approximately $909,000. American Century Companies Inc. increased its stake in shares of Tango Therapeutics by 8.3% during the third quarter. American Century Companies Inc. now owns 23,718 shares of the company's stock valued at $267,000 after acquiring an additional 1,826 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Tango Therapeutics during the third quarter valued at approximately $204,000. Sei Investments Co. acquired a new position in shares of Tango Therapeutics during the third quarter valued at approximately $394,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Tango Therapeutics by 47.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company's stock valued at $19,760,000 after acquiring an additional 564,971 shares during the period. Institutional investors and hedge funds own 78.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TNGX shares. Wedbush restated an "outperform" rating and set a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. HC Wainwright raised their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an "overweight" rating for the company. Finally, Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They set an "overweight" rating and a $18.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $17.25.

Insider Buying and Selling

In related news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now owns 19,201,475 shares of the company's stock, valued at approximately $230,417,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Barbara Weber sold 4,681 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $58,793.36. Following the completion of the transaction, the chief executive officer now owns 1,539,624 shares of the company's stock, valued at approximately $19,337,677.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares of the company's stock, valued at approximately $230,417,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,731 shares of company stock valued at $2,103,703. Company insiders own 6.20% of the company's stock.

Tango Therapeutics Price Performance

Tango Therapeutics stock traded down $0.23 during midday trading on Friday, reaching $7.36. The stock had a trading volume of 516,501 shares, compared to its average volume of 675,321. The firm's fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $9.60. Tango Therapeutics, Inc. has a twelve month low of $2.47 and a twelve month high of $13.03. The firm has a market cap of $785.46 million, a price-to-earnings ratio of -6.90 and a beta of 0.83.

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.