Tango Therapeutics, Inc. $TNGX Stock Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 68.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 627,609 shares of the company’s stock after selling 1,382,925 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Tango Therapeutics were worth $15,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TNGX. BlackRock Inc. bought a new position in Tango Therapeutics in the 2nd quarter worth about $388,826,000. TRV GP IV LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $120,181,383,000. Jupiter Topco LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $157,989,000. Seven Fleet Capital Management LP increased its stake in shares of Tango Therapeutics by 302.2% in the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after purchasing an additional 2,425,484 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Tango Therapeutics by 3,918.5% during the second quarter. Alyeska Investment Group L.P. now owns 691,109 shares of the company’s stock valued at $21,604,000 after buying an additional 673,911 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Price Performance

TNGX opened at $25.73 on Thursday. The stock’s fifty day moving average is $23.42 and its 200-day moving average is $22.66. Tango Therapeutics, Inc. has a one year low of $7.49 and a one year high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Monday, November 9th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.44 earnings per share for the current fiscal year.

Tango Therapeutics News Roundup

These are some of the TNGX news items that stood out recently:

• Neutral Sentiment: A report said November short interest increased significantly, but also stated that short interest totaled zero shares and days to cover were 0.0. Those conflicting figures make the update difficult to interpret.
• Negative Sentiment: Wedbush cut its target to $40 from $45, though it kept an “outperform” rating. Wedbush recommendations
• Negative Sentiment: HC Wainwright lowered its target to $67 from $68 but maintained a “buy” rating. Its revised target remains well above the cited share price. HC Wainwright recommendations

Insider Activity

In other Tango Therapeutics news, insider Adam Crystal sold 5,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $22.42, for a total value of $112,100.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $2,594,958.06. This represents a 4.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica Newcomb sold 7,031 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $157,635.02. Following the completion of the sale, the insider directly owned 52,090 shares of the company’s stock, valued at $1,167,857.80. The trade was a 11.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 47,231 shares of company stock worth $1,129,029. 6.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TNGX shares. Wedbush reduced their price objective on Tango Therapeutics from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday. William Blair began coverage on Tango Therapeutics in a report on Friday, October 16th. They issued an “outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tango Therapeutics in a research report on Wednesday, November 4th. Guggenheim lifted their target price on Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.54.

Tango Therapeutics Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.