Candriam S.C.A. Buys 560,434 Shares of Tango Therapeutics, Inc. $TNGX

Candriam S.C.A. raised its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 79.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,269,246 shares of the company’s stock after buying an additional 560,434 shares during the period. Candriam S.C.A.’s holdings in Tango Therapeutics were worth $26,553,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Farallon Capital Management LLC raised its holdings in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after purchasing an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the period. Siren L.L.C. grew its stake in Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after purchasing an additional 2,282,186 shares during the period. Vanguard Group Inc. lifted its stake in Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after buying an additional 1,698,974 shares during the period. Finally, State Street Corp grew its position in shares of Tango Therapeutics by 84.8% during the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after buying an additional 2,853,362 shares during the period. 78.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 38,460 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total value of $961,500.00. Following the completion of the transaction, the insider owned 112,622 shares of the company’s stock, valued at $2,815,550. The trade was a 25.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 119,460 shares of company stock valued at $2,951,130. 6.50% of the stock is owned by insiders.

Tango Therapeutics Stock Performance

NASDAQ TNGX traded up $0.54 on Friday, hitting $31.06. The stock had a trading volume of 3,372,013 shares, compared to its average volume of 4,826,892. The firm has a 50-day moving average of $26.09 and a 200-day moving average of $19.25. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -37.42 and a beta of 1.12. Tango Therapeutics, Inc. has a 52-week low of $5.75 and a 52-week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). As a group, research analysts anticipate that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TNGX. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $60.00 in a research note on Thursday, June 25th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Mizuho set a $36.00 target price on shares of Tango Therapeutics in a report on Monday, June 8th. Raymond James Financial downgraded Tango Therapeutics to a “hold” rating in a research note on Thursday, June 25th. Finally, Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the stock an “outperform” rating in a research note on Monday, June 8th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

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.