Walleye Capital LLC Makes New Investment in Tango Therapeutics, Inc. $TNGX

Walleye Capital LLC bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 192,270 shares of the company’s stock, valued at approximately $6,010,000. Walleye Capital LLC owned approximately 0.13% of Tango Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TNGX. Mass General Brigham Inc purchased a new position in Tango Therapeutics during the fourth quarter valued at approximately $3,138,000. Candriam S.C.A. boosted its holdings in Tango Therapeutics by 79.1% in the 1st quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock valued at $26,553,000 after purchasing an additional 560,434 shares during the period. Assenagon Asset Management S.A. bought a new position in Tango Therapeutics in the 2nd quarter valued at $10,790,000. Tema ETFs LLC purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at $1,731,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $1,906,000. 78.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Guggenheim boosted their target price on Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. 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. JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 price target on the stock. Finally, HC Wainwright lifted their price target on Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.31.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $25.60 on Friday. The company’s fifty day moving average price is $28.92 and its 200-day moving average price is $22.24. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -30.12 and a beta of 1.16. Tango Therapeutics, Inc. has a one year low of $6.25 and a one year high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, equities research analysts expect that Tango Therapeutics, Inc. will post -1.34 EPS for the current year.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics 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 sale, the insider owned 115,743 shares of the company’s stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.50% of the stock is owned by insiders.

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.