Rafferty Asset Management LLC Acquires New Position in Tango Therapeutics, Inc. $TNGX

Rafferty Asset Management LLC bought a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the third quarter, Holdings Channel reports. The institutional investor bought 145,316 shares of the company’s stock, valued at approximately $1,221,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TNGX. CWM LLC grew its position in Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after acquiring an additional 3,167 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Tango Therapeutics by 78.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Tango Therapeutics by 44.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares during the last quarter. Finally, Northeast Financial Consultants Inc purchased a new position in Tango Therapeutics in the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TNGX shares. B. Riley Financial upped their price target 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. Jefferies Financial Group reissued a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday. Guggenheim increased their target price on Tango Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wolfe Research initiated coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler lifted their price target on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.86.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the sale, the chief financial officer owned 184,297 shares in the company, valued at approximately $2,259,481.22. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,633 shares of company stock valued at $1,420,857 in the last 90 days. Insiders own 7.50% of the company’s stock.

Tango Therapeutics Trading Up 36.0%

Tango Therapeutics stock opened at $16.80 on Friday. The firm has a market cap of $2.26 billion, a P/E ratio of -18.06 and a beta of 1.76. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $16.97. The firm has a 50-day moving average of $11.70 and a 200-day moving average of $9.37.

Tango Therapeutics Company 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.