Perceptive Advisors LLC Has $16.91 Million Stock Holdings in Tango Therapeutics, Inc. $TNGX

Perceptive Advisors LLC increased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 57.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 808,153 shares of the company’s stock after acquiring an additional 295,118 shares during the quarter. Perceptive Advisors LLC owned about 0.56% of Tango Therapeutics worth $16,907,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new stake in shares of Tango Therapeutics in the 3rd quarter valued at $450,000. Mass General Brigham Inc acquired a new stake in Tango Therapeutics during the 4th quarter worth $3,138,000. Candriam S.C.A. lifted its holdings in Tango Therapeutics by 79.1% during the first quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock worth $26,553,000 after acquiring an additional 560,434 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Finally, Seven Fleet Capital Management LP acquired a new position in Tango Therapeutics in the fourth quarter valued at about $1,906,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Trading Down 1.4%

TNGX stock opened at $27.18 on Friday. The stock has a 50-day moving average price of $27.68 and a two-hundred day moving average price of $21.18. Tango Therapeutics, Inc. has a 1 year low of $5.77 and a 1 year high of $34.39. The stock has a market cap of $3.93 billion, a PE ratio of -32.75 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). On average, analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

TNGX has been the subject of several recent analyst reports. Weiss Ratings downgraded Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. UBS Group set a $55.00 target price on Tango Therapeutics in a research note on Thursday, May 14th. Finally, Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the stock an “outperform” rating in a report on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.15.

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.