Tango Therapeutics, Inc. (NASDAQ:TNGX) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 30.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,041 shares of the company’s stock after selling 4,393 shares during the quarter. XTX Topco Ltd’s holdings in Tango Therapeutics were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TNGX. Paloma Partners Management Co bought a new position in shares of Tango Therapeutics during the first quarter worth about $80,000. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $90,000. Price T Rowe Associates Inc. MD lifted its holdings in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Tango Therapeutics by 65.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,569 shares of the company’s stock worth $155,000 after acquiring an additional 7,776 shares in the last quarter. Finally, Old Well Partners LLC bought a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $182,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the sale, the insider now owns 16,859,075 shares of the company’s stock, valued at $177,526,059.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 1,680,311 shares of company stock valued at $17,042,393. 6.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TNGX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Wedbush lifted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group assumed coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $7.28 on Wednesday. Tango Therapeutics, Inc. has a one year low of $5.15 and a one year high of $13.03. The company has a 50-day simple moving average of $9.65 and a 200-day simple moving average of $8.61. The firm has a market capitalization of $777.84 million, a P/E ratio of -6.44 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. As a group, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Tango Therapeutics Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.