Jefferies Financial Group Inc. Makes New Investment in Tango Therapeutics, Inc. $TNGX

Jefferies Financial Group Inc. bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,010,534 shares of the company’s stock, valued at approximately $62,849,000. Jefferies Financial Group Inc. owned about 1.19% of Tango Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TNGX. Handelsbanken Fonder AB bought a new position in shares of Tango Therapeutics in the 2nd quarter worth $9,000,000. TRV GP IV LLC acquired a new position in Tango Therapeutics in the second quarter valued at about $120,181,383,000. Assenagon Asset Management S.A. bought a new position in Tango Therapeutics during the second quarter worth about $10,790,000. Tema ETFs LLC acquired a new position in shares of Tango Therapeutics during the 2nd quarter worth about $1,731,000. Finally, Candriam S.C.A. grew its position in shares of Tango Therapeutics by 79.1% during the 1st quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock worth $26,553,000 after buying an additional 560,434 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Down 0.7%

Shares of Tango Therapeutics stock opened at $25.28 on Friday. The stock has a market cap of $4.26 billion, a P/E ratio of -29.74 and a beta of 1.16. Tango Therapeutics, Inc. has a 12-month low of $6.25 and a 12-month high of $34.39. The business’s 50 day moving average is $27.84 and its 200-day moving average is $23.13.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.38 EPS for the current year.

Analysts Set New Price Targets

TNGX has been the topic of several recent analyst reports. HC Wainwright lifted their price objective on shares of Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Canaccord Genuity Group lifted their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Guggenheim boosted their price target on shares of Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Thirteen 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.46.

Tango Therapeutics Company Profile

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.