The Manufacturers Life Insurance Company Acquires 75,876 Shares of Tango Therapeutics, Inc. $TNGX

The Manufacturers Life Insurance Company increased its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 234.6% during the first quarter, Holdings Channel.com reports. The firm owned 108,218 shares of the company’s stock after purchasing an additional 75,876 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tango Therapeutics were worth $2,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of TNGX. Farallon Capital Management LLC increased its position in Tango Therapeutics by 21.4% in the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after buying an additional 2,304,411 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Tango Therapeutics by 322.5% during 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 acquiring an additional 8,096,924 shares during the period. Siren L.L.C. increased its holdings in Tango Therapeutics by 38.8% in the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after acquiring an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Finally, State Street Corp raised its stake in 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 acquiring an additional 2,853,362 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares in the company, valued at $3,424,835.37. The trade was a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.50% of the company’s stock.

Tango Therapeutics Price Performance

TNGX stock opened at $27.07 on Friday. Tango Therapeutics, Inc. has a 1-year low of $6.25 and a 1-year high of $34.39. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -32.61 and a beta of 1.16. The business has a 50 day simple moving average of $28.47 and a two-hundred day simple moving average of $21.76.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several analyst reports. Wedbush lifted their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Leerink Partners lifted 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. Jefferies Financial Group raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $60.00 in a report on Thursday, June 25th. Finally, Canaccord Genuity Group increased their price target on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.