UBS Group AG Purchases 829,980 Shares of Tango Therapeutics, Inc. $TNGX

UBS Group AG boosted its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 517.2% during the 4th quarter, HoldingsChannel reports. The fund owned 990,458 shares of the company’s stock after buying an additional 829,980 shares during the quarter. UBS Group AG’s holdings in Tango Therapeutics were worth $8,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TNGX. Adage Capital Partners GP L.L.C. acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $30,235,000. Paradigm Biocapital Advisors LP acquired a new stake in Tango Therapeutics during the third quarter valued at approximately $25,924,000. Vanguard Group Inc. boosted its holdings in Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after purchasing an additional 1,698,974 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Tango Therapeutics by 17.5% during the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after purchasing an additional 1,600,000 shares in the last quarter. Finally, Commodore Capital LP acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $7,680,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Friday, March 27th. HC Wainwright lifted their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday, March 6th. Guggenheim lifted their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. Stifel Nicolaus lifted their price objective on Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Mizuho lifted their price objective on Tango Therapeutics from $20.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tango Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.27.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $21.23, for a total transaction of $573,210.00. Following the sale, the insider directly owned 115,743 shares in the company, valued at $2,457,223.89. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 179,056 shares of company stock worth $3,346,181. 6.50% of the stock is owned by corporate insiders.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $20.56 on Monday. The firm has a market cap of $2.97 billion, a PE ratio of -24.77 and a beta of 1.22. Tango Therapeutics, Inc. has a one year low of $1.40 and a one year high of $28.41. The stock’s 50 day simple moving average is $21.58 and its 200 day simple moving average is $14.29.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. As a group, equities analysts expect that Tango Therapeutics, Inc. will post -1.33 earnings per share for the current year.

About Tango Therapeutics

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.