Strs Ohio Lowers Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Strs Ohio reduced its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 23.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,200 shares of the company’s stock after selling 5,700 shares during the period. Strs Ohio’s holdings in Tango Therapeutics were worth $180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Tango Therapeutics by 205.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock worth $4,136,000 after purchasing an additional 247,234 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Tango Therapeutics during the 3rd quarter worth $653,000. FMR LLC grew its position in Tango Therapeutics by 12.3% during the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock worth $131,131,000 after purchasing an additional 1,276,945 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Tango Therapeutics by 47.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock worth $19,760,000 after purchasing an additional 564,971 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tango Therapeutics by 421.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after acquiring an additional 9,530 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Trading Down 2.2 %

TNGX stock opened at $7.70 on Wednesday. The company has a market cap of $821.90 million, a P/E ratio of -7.00 and a beta of 0.84. Tango Therapeutics, Inc. has a 52 week low of $2.47 and a 52 week high of $13.03. The company’s 50-day moving average price is $8.81 and its 200 day moving average price is $9.33.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $7.86 million. Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. On average, equities research analysts expect that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TNGX shares. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating on the stock. Wedbush reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, HC Wainwright lifted their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.25.

Insider Buying and Selling

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the completion of the transaction, the insider now owns 19,201,475 shares in the company, valued at $230,417,700. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $58,793.36. Following the completion of the transaction, the chief executive officer now owns 1,539,624 shares in the company, valued at $19,337,677.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares of the company’s stock, valued at approximately $230,417,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,731 shares of company stock valued at $2,103,703. Corporate insiders own 6.20% of the company’s stock.

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.