Legal & General Group Plc Makes New $2.68 Million Investment in Tango Therapeutics, Inc. $TNGX

Legal & General Group Plc bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 85,642 shares of the company’s stock, valued at approximately $2,677,000. Legal & General Group Plc owned 0.05% of Tango Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of Tango Therapeutics during the second quarter valued at $35,000. Russell Investments Group Ltd. increased 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 purchasing an additional 2,065 shares during the period. SG Americas Securities LLC increased its position in Tango Therapeutics by 10.2% in the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock worth $507,000 after purchasing an additional 2,251 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tango Therapeutics by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock worth $10,237,000 after purchasing an additional 2,272 shares during the last quarter. Finally, Barclays PLC raised its holdings in Tango Therapeutics by 0.7% during the 4th quarter. Barclays PLC now owns 368,187 shares of the company’s stock worth $3,262,000 after purchasing an additional 2,507 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TNGX. Guggenheim raised their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wolfe Research set a $35.00 price target on shares of Tango Therapeutics and gave the stock an “outperform” rating in a research note on Monday, June 8th. Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. HC Wainwright increased their price objective on shares of Tango Therapeutics from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, Canaccord Genuity Group raised their price objective on shares of Tango Therapeutics from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Thirteen investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.46.

Insiders Place Their Bets

In related news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider owned 115,743 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Tango Therapeutics Trading Down 1.1%

NASDAQ:TNGX opened at $22.52 on Friday. Tango Therapeutics, Inc. has a 1-year low of $6.25 and a 1-year high of $34.39. The business’s 50-day moving average price is $27.05 and its two-hundred day moving average price is $23.48. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -26.49 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last posted its 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). Sell-side analysts predict that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Tango Therapeutics 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.