SG Americas Securities LLC Purchases Shares of 22,006 Tango Therapeutics, Inc. $TNGX

SG Americas Securities LLC purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,006 shares of the company’s stock, valued at approximately $195,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Tango Therapeutics by 461.3% during the third quarter. Russell Investments Group Ltd. now owns 7,729 shares of the company’s stock valued at $65,000 after purchasing an additional 6,352 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Tango Therapeutics by 44.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares during the last quarter. Northeast Financial Consultants Inc acquired a new stake in shares of Tango Therapeutics in the second quarter worth $51,000. Finally, Sei Investments Co. acquired a new stake in shares of Tango Therapeutics in the third quarter worth $84,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TNGX. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Guggenheim raised their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Canaccord Genuity Group began coverage on shares of Tango Therapeutics in a research note on Thursday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Wedbush raised their price objective on shares of Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Insider Buying and Selling

In related news, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the transaction, the insider directly owned 132,873 shares of the company’s stock, valued at $1,696,788.21. This trade represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the transaction, the chief financial officer directly owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This trade represents a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 211,344 shares of company stock valued at $3,499,842 over the last ninety days. 7.50% of the stock is owned by company insiders.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $25.04 on Friday. The stock has a market cap of $3.57 billion, a P/E ratio of -28.78 and a beta of 1.31. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $26.00. The stock has a fifty day moving average price of $16.94 and a 200 day moving average price of $12.03.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. Equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS 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.