6,374,574 Shares in Tango Therapeutics, Inc. $TNGX Purchased by Trv Gp Iv LLC

Trv Gp Iv LLC acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the second quarter, HoldingsChannel reports. The fund acquired 6,374,574 shares of the company’s stock, valued at approximately $120,181,383,000. Tango Therapeutics comprises about 47.4% of Trv Gp Iv LLC’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNGX. TRV GP VI LLC bought a new position in shares of Tango Therapeutics in the second quarter worth about $6,069,879,000. BlackRock Inc. acquired a new position in shares of Tango Therapeutics during the second quarter worth approximately $388,826,000. Deutsche Bank AG bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $4,516,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $252,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $258,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

TNGX opened at $25.44 on Wednesday. The company has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $22.51. Tango Therapeutics, Inc. has a 52 week low of $6.25 and a 52 week high of $34.39. The firm has a market capitalization of $4.29 billion, a PE ratio of -29.93 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). Equities analysts forecast that Tango Therapeutics, Inc. will post -1.36 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated 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 owned 115,743 shares in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TNGX has been the subject of several research analyst reports. UBS Group set a $55.00 price objective on shares of Tango Therapeutics in a research report on Thursday, May 14th. JPMorgan Chase & Co. began coverage on Tango Therapeutics in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 price objective on the stock. Piper Sandler cut Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $24.00 in a research note on Thursday, May 14th. Mizuho upped their price target on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Weiss Ratings raised Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.46.

Tango Therapeutics 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.