Deutsche Bank AG Acquires New Position in Tango Therapeutics, Inc. $TNGX

Deutsche Bank AG acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 144,477 shares of the company’s stock, valued at approximately $4,516,000.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Tango Therapeutics by 138.8% during the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock worth $97,000 after acquiring an additional 40,983 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Tango Therapeutics in the first quarter valued at approximately $195,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tango Therapeutics by 139.7% in 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 period. Woodline Partners LP grew its stake in Tango Therapeutics by 28.3% in the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after purchasing an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Tango Therapeutics by 270.6% in the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock worth $483,000 after purchasing an additional 257,668 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Wall Street Zen downgraded Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. started coverage on shares of Tango Therapeutics in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 price objective for the company. Piper Sandler cut shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $16.00 to $24.00 in a report on Thursday, May 14th. Finally, Leerink Partners increased their target price on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $43.46.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $24.77 on Wednesday. The firm has a market capitalization of $4.18 billion, a P/E ratio of -29.14 and a beta of 1.16. The stock has a 50-day simple moving average of $28.03 and a two-hundred day simple moving average of $22.95. Tango Therapeutics, Inc. has a fifty-two week low of $6.25 and a fifty-two week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, analysts forecast that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the sale, the insider owned 115,743 shares of the company’s stock, valued at $3,424,835.37. The trade was a 18.92% 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. 6.50% of the stock is currently owned by insiders.

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.