Trv Gp Iv LLC Makes New Investment in Tango Therapeutics, Inc. $TNGX

Trv Gp Iv LLC acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,374,574 shares of the company’s stock, valued at approximately $120,181,383,000. Tango Therapeutics makes up about 47.4% of Trv Gp Iv LLC’s investment portfolio, making the stock its 2nd biggest holding. Trv Gp Iv LLC owned approximately 4.41% of Tango Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TNGX. BlackRock Inc. bought a new position in Tango Therapeutics in the second quarter worth $388,826,000. Adage Capital Partners GP L.L.C. increased its holdings 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 buying an additional 8,096,924 shares during the period. Caligan Partners LP acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at $33,047,000. Goldman Sachs Group Inc. raised its stake in shares of 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 buying an additional 3,432,939 shares in the last quarter. Finally, Logos Global Management LP lifted its holdings in shares of Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after acquiring an additional 3,250,000 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Stock Up 0.6%

NASDAQ:TNGX opened at $25.44 on Wednesday. The firm has a market cap of $4.29 billion, a PE ratio of -29.93 and a beta of 1.16. Tango Therapeutics, Inc. has a 12 month low of $6.25 and a 12 month high of $34.39. The company’s 50-day moving average price is $28.69 and its two-hundred day moving average price is $22.51.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, research analysts expect that Tango Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price target for the company. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $60.00 in a report on Thursday, June 25th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Finally, Canaccord Genuity Group increased their target price on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tango Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $43.46.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the sale, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. 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. 6.50% of the stock is currently owned by company insiders.

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.