Squarepoint Ops LLC Cuts Holdings in Tango Therapeutics, Inc. $TNGX

Squarepoint Ops LLC trimmed its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 86.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,558 shares of the company’s stock after selling 155,357 shares during the period. Squarepoint Ops LLC’s holdings in Tango Therapeutics were worth $736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNGX. Nykredit A S purchased a new position in shares of Tango Therapeutics in the 2nd quarter worth approximately $26,000. Allworth Financial LP purchased a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $35,000. Global Retirement Partners LLC bought a new stake in Tango Therapeutics during the second quarter worth $122,000. State of Wyoming bought a new stake in Tango Therapeutics during the first quarter worth $128,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Tango Therapeutics during the second quarter worth $205,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insider Buying and Selling at Tango Therapeutics

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

Analysts Set New Price Targets

TNGX has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Canaccord Genuity Group lifted their target price on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Raymond James Financial downgraded shares of Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, HC Wainwright raised their price objective on shares of Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Thirteen investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.46.

Tango Therapeutics Stock Performance

TNGX stock opened at $21.75 on Friday. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -25.59 and a beta of 1.12. Tango Therapeutics, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $34.39. The stock has a fifty day moving average of $25.65 and a 200-day moving average of $24.25.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). Equities analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.

Tango Therapeutics Profile

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango’s research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.