Perceptive Advisors LLC Acquires 295,118 Shares of Tango Therapeutics, Inc. $TNGX

Perceptive Advisors LLC raised its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 57.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 808,153 shares of the company’s stock after buying an additional 295,118 shares during the period. Perceptive Advisors LLC’s holdings in Tango Therapeutics were worth $16,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNGX. Stempoint Capital LP acquired a new position in shares of Tango Therapeutics during the 1st quarter worth about $4,203,000. The Manufacturers Life Insurance Company increased its position in shares of Tango Therapeutics by 234.6% in the first quarter. The Manufacturers Life Insurance Company now owns 108,218 shares of the company’s stock valued at $2,264,000 after acquiring an additional 75,876 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Tango Therapeutics in the first quarter valued at about $262,000. Entropy Technologies LP increased its position in shares of Tango Therapeutics by 39.6% in the first quarter. Entropy Technologies LP now owns 20,656 shares of the company’s stock valued at $432,000 after acquiring an additional 5,864 shares during the last quarter. Finally, State of Wyoming bought a new stake in Tango Therapeutics during the first quarter worth about $128,000. 78.99% of the stock is owned by institutional investors.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.50% of the stock is owned by corporate insiders.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $27.18 on Friday. Tango Therapeutics, Inc. has a 52-week low of $5.77 and a 52-week high of $34.39. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -32.75 and a beta of 1.12. The firm’s 50-day moving average is $27.68 and its 200-day moving average is $21.18.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). Sell-side analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on TNGX shares. UBS Group set a $55.00 price target on Tango Therapeutics in a research report on Thursday, May 14th. Wolfe Research set a $35.00 price target on Tango Therapeutics and gave the stock an “outperform” rating in a research report on Monday, June 8th. Piper Sandler cut Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $24.00 in a research note on Thursday, May 14th. HC Wainwright increased their price objective on Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Leerink Partners raised their target price on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.15.

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.