The Manufacturers Life Insurance Company purchased a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 181,212 shares of the company’s stock, valued at approximately $5,665,000.
A number of other institutional investors and hedge funds also recently modified their holdings of TNGX. Allworth Financial LP acquired a new position in shares of Tango Therapeutics in the 2nd quarter worth $35,000. Global Retirement Partners LLC purchased a new stake in shares of Tango Therapeutics during the fourth quarter valued at $35,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 78.99% of the company’s stock.
Insider Activity
In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.50% of the company’s stock.
Tango Therapeutics Stock Performance
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. UBS Group set a $55.00 price objective on Tango Therapeutics in a report on Thursday, May 14th. Canaccord Genuity Group raised their target price on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, June 29th. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price target on the stock. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $27.00 to $60.00 in a report on Thursday, June 25th. Finally, Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.46.
Check Out Our Latest Research Report on Tango Therapeutics
Tango Therapeutics 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.
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