Seven Fleet Capital Management LP Acquires Shares of 215,172 Tango Therapeutics, Inc. $TNGX

Seven Fleet Capital Management LP bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 215,172 shares of the company’s stock, valued at approximately $1,906,000. Tango Therapeutics makes up about 1.4% of Seven Fleet Capital Management LP’s portfolio, making the stock its 10th biggest position. Seven Fleet Capital Management LP owned 0.16% of Tango Therapeutics as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted its position in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the last quarter. Caligan Partners LP bought a new position in Tango Therapeutics in the 4th quarter worth approximately $33,047,000. Goldman Sachs Group Inc. increased its position in Tango Therapeutics by 227.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after acquiring an additional 3,432,939 shares during the period. Logos Global Management LP increased its position in Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after acquiring an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP acquired a new stake in Tango Therapeutics in the 3rd quarter valued at approximately $25,924,000. Institutional investors own 78.99% of the company’s stock.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 38,460 shares of Tango Therapeutics stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total value of $961,500.00. Following the transaction, the insider directly owned 112,622 shares in the company, valued at approximately $2,815,550. The trade was a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 131,460 shares of company stock valued at $2,965,920 in the last 90 days. Insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TNGX shares. UBS Group set a $55.00 price target on Tango Therapeutics in a research report on Thursday, May 14th. Guggenheim lifted their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the stock an “outperform” rating in a report on Monday, June 8th. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Finally, Canaccord Genuity Group raised their price objective on shares of Tango Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.42.

Tango Therapeutics Stock Down 13.4%

Shares of NASDAQ:TNGX opened at $27.97 on Friday. The firm has a market capitalization of $4.05 billion, a P/E ratio of -33.70 and a beta of 1.19. Tango Therapeutics, Inc. has a 12-month low of $4.60 and a 12-month high of $34.39. The firm has a fifty day moving average of $24.30 and a two-hundred day moving average of $16.99.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. Equities research analysts expect that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

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.