Geode Capital Management LLC Boosts Holdings in Tango Therapeutics, Inc. $TNGX

Geode Capital Management LLC boosted its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 27.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,768,913 shares of the company’s stock after buying an additional 385,476 shares during the quarter. Geode Capital Management LLC’s holdings in Tango Therapeutics were worth $9,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TNGX. CWM LLC raised its position in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after purchasing an additional 3,167 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after buying an additional 15,037 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in Tango Therapeutics during the first quarter worth $57,000. Savant Capital LLC acquired a new position in shares of Tango Therapeutics in the second quarter worth $61,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Tango Therapeutics by 2,376.2% in the first quarter. Russell Investments Group Ltd. now owns 51,183 shares of the company’s stock worth $73,000 after acquiring an additional 49,116 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the completion of the sale, the insider directly owned 13,386,574 shares in the company, valued at $135,873,726.10. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,427,401 shares of company stock worth $12,023,620. 7.50% of the stock is owned by insiders.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $9.90 on Friday. Tango Therapeutics, Inc. has a 12 month low of $1.03 and a 12 month high of $11.20. The company has a 50-day moving average of $8.54 and a 200-day moving average of $6.68. The company has a market cap of $1.33 billion, a P/E ratio of -10.65 and a beta of 1.72.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The firm had revenue of $53.81 million during the quarter, compared to the consensus estimate of $41.35 million. As a group, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

TNGX has been the topic of a number of analyst reports. Wolfe Research started coverage on Tango Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Stifel Nicolaus started coverage on shares of Tango Therapeutics in a report on Wednesday. They issued a “buy” rating and a $15.00 target price on the stock. Piper Sandler began coverage on shares of Tango Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $11.00 price target for the company. B. Riley boosted their price objective on shares of Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Tango Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Tango Therapeutics Company Profile

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.