Bleakley Financial Group LLC Cuts Stock Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Bleakley Financial Group LLC lessened its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 10.3% during the third quarter, HoldingsChannel.com reports. The fund owned 14,427 shares of the company’s stock after selling 1,653 shares during the quarter. Bleakley Financial Group LLC’s holdings in Tango Therapeutics were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of Tango Therapeutics in the 3rd quarter valued at $151,000. Point72 DIFC Ltd purchased a new position in shares of Tango Therapeutics in the 2nd quarter valued at $54,000. Point72 Asset Management L.P. acquired a new stake in Tango Therapeutics during the 2nd quarter valued at $3,836,000. Quarry LP acquired a new stake in Tango Therapeutics during the 2nd quarter valued at $99,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in Tango Therapeutics by 82.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock valued at $536,000 after purchasing an additional 28,155 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $6.29 on Friday. The company’s 50 day simple moving average is $8.79 and its 200 day simple moving average is $8.47. The company has a market capitalization of $672.06 million, a P/E ratio of -5.57 and a beta of 0.81. Tango Therapeutics, Inc. has a 12 month low of $6.12 and a 12 month high of $13.01.

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

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock in a transaction that occurred on 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 directly owns 7,573,642 shares in the company, valued at $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the completion of the sale, the insider now directly owns 17,001,475 shares in the company, valued at $197,217,110. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $7.05, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,292,400 shares of company stock valued at $11,528,872. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TNGX shares. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, September 10th. Wedbush raised their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tango Therapeutics presently has an average rating of “Buy” and a consensus price target of $15.14.

About Tango Therapeutics

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.