T. Rowe Price Investment Management Inc. Has $10.34 Million Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

T. Rowe Price Investment Management Inc. reduced its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 33.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,345,551 shares of the company's stock after selling 1,677,595 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.11% of Tango Therapeutics worth $10,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TNGX. Gilead Sciences Inc. purchased a new position in Tango Therapeutics in the 4th quarter worth about $15,000,000. Geode Capital Management LLC boosted its holdings in shares of Tango Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,386,449 shares of the company's stock worth $4,285,000 after buying an additional 18,187 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Tango Therapeutics by 83.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,776 shares of the company's stock worth $2,048,000 after acquiring an additional 302,087 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $2,031,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tango Therapeutics by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company's stock valued at $1,586,000 after acquiring an additional 26,192 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Price Performance

TNGX traded up $0.10 on Friday, reaching $1.51. 457,643 shares of the company traded hands, compared to its average volume of 1,081,082. The company has a market cap of $163.24 million, a price-to-earnings ratio of -1.28 and a beta of 1.03. The stock's 50 day moving average price is $1.60 and its 200-day moving average price is $2.89. Tango Therapeutics, Inc. has a 52-week low of $1.11 and a 52-week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. The company had revenue of $4.12 million for the quarter, compared to analysts' expectations of $7.84 million. As a group, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $12.33.

Insiders Place Their Bets

In related news, CEO Barbara Weber sold 9,778 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the sale, the chief executive officer now owns 1,631,264 shares of the company's stock, valued at approximately $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 24,268 shares of company stock valued at $72,561 in the last three months. Insiders own 6.30% of the company's stock.

Tango Therapeutics Company 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.