Mass General Brigham Inc Buys Shares of 354,192 Tango Therapeutics, Inc. $TNGX

Mass General Brigham Inc bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 4th quarter, Holdings Channel.com reports. The fund bought 354,192 shares of the company’s stock, valued at approximately $3,138,000. Tango Therapeutics comprises approximately 0.4% of Mass General Brigham Inc’s investment portfolio, making the stock its 5th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tango Therapeutics by 52.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $248,000. Congress Asset Management Co. grew its holdings in shares of Tango Therapeutics by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 234,628 shares of the company’s stock worth $2,079,000 after buying an additional 6,508 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $195,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TNGX shares. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research report on Friday, March 27th. Canaccord Genuity Group started coverage on shares of Tango Therapeutics in a research report on Thursday, April 2nd. They set a “buy” rating and a $30.00 price target on the stock. Wedbush lifted their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Guggenheim lifted their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.67.

Tango Therapeutics Trading Down 0.9%

Shares of NASDAQ:TNGX opened at $26.39 on Tuesday. The company has a fifty day simple moving average of $17.49 and a 200 day simple moving average of $12.35. The firm has a market cap of $3.77 billion, a PE ratio of -30.33 and a beta of 1.31. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $27.16.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Tango Therapeutics news, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares in the company, valued at $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. The trade was a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 211,344 shares of company stock worth $3,499,842. Insiders own 7.50% of the company’s stock.

Tango Therapeutics Company 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.