Trv Gp Iv LLC Sells 1,500,000 Shares of Tango Therapeutics, Inc. $TNGX

Trv Gp Iv LLC decreased its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,374,574 shares of the company’s stock after selling 1,500,000 shares during the period. Tango Therapeutics accounts for approximately 50.0% of Trv Gp Iv LLC’s investment portfolio, making the stock its 2nd largest position. Trv Gp Iv LLC’s holdings in Tango Therapeutics were worth $133,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TNGX. Legal & General Group Plc raised its position in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after buying an additional 1,640 shares during the period. Russell Investments Group Ltd. grew its position in Tango Therapeutics by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock worth $87,000 after acquiring an additional 2,065 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after acquiring an additional 2,243 shares during the period. SG Americas Securities LLC increased its stake in Tango Therapeutics by 10.2% during the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock worth $507,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tango Therapeutics by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock valued at $10,237,000 after purchasing an additional 2,272 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Wedbush raised their price objective on Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. HC Wainwright boosted their price objective on shares of Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. UBS Group set a $55.00 target price on shares of Tango Therapeutics in a research report on Thursday, May 14th. Finally, Weiss Ratings lowered shares of Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.15.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 81,000 shares of company stock worth $1,989,630. Company insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Down 3.6%

NASDAQ:TNGX opened at $27.54 on Tuesday. Tango Therapeutics, Inc. has a 52 week low of $5.77 and a 52 week high of $34.39. The stock’s fifty day moving average is $26.74 and its two-hundred day moving average is $20.17. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -33.18 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.32). On average, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

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.