SG Americas Securities LLC Purchases New Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

SG Americas Securities LLC purchased a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 19,644 shares of the company’s stock, valued at approximately $151,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares in the last quarter. Artal Group S.A. acquired a new stake in Tango Therapeutics in the 1st quarter valued at $17,427,000. Point72 Asset Management L.P. acquired a new stake in Tango Therapeutics in the 2nd quarter valued at $3,836,000. Dimensional Fund Advisors LP boosted its stake in Tango Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after buying an additional 100,257 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Tango Therapeutics by 110.8% in the fourth quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock worth $1,685,000 after purchasing an additional 89,481 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00. Following the transaction, the insider now owns 17,486,475 shares of the company’s stock, valued at $171,367,455. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $9.80, for a total value of $392,000.00. Following the completion of the sale, the insider now owns 17,486,475 shares in the company, valued at approximately $171,367,455. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the sale, the insider now owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,292,400 shares of company stock valued at $11,528,872 over the last 90 days. 6.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wedbush boosted their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group assumed coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Stock Up 0.3 %

Shares of TNGX opened at $6.29 on Friday. Tango Therapeutics, Inc. has a 12-month low of $6.12 and a 12-month high of $13.01. The firm has a market capitalization of $672.06 million, a PE ratio of -5.57 and a beta of 0.81. The stock’s fifty day simple moving average is $8.79 and its 200-day simple moving average is $8.47.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The business had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Analysts anticipate that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

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.