Jupiter Topco LLC Takes $157.99 Million Position in Tango Therapeutics, Inc. $TNGX

Jupiter Topco LLC purchased a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,056,352 shares of the company’s stock, valued at approximately $157,989,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP bought a new stake in Tango Therapeutics in the 2nd quarter valued at about $35,000. Global Retirement Partners LLC bought a new position in Tango Therapeutics in the 4th quarter worth about $35,000. Dynamic Technology Lab Private Ltd grew its position in Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Tango Therapeutics by 30.7% in 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 period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Tango Therapeutics in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Trading Up 2.8%

TNGX stock opened at $25.47 on Thursday. The firm’s 50-day moving average is $27.90 and its two-hundred day moving average is $23.04. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -29.96 and a beta of 1.16. Tango Therapeutics, Inc. has a 52 week low of $6.25 and a 52 week high of $34.39.

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

Wall Street Analyst Weigh In

TNGX has been the subject of several analyst reports. Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wedbush raised their target price on Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the company an “outperform” rating in a research note on Monday, June 8th. Mizuho boosted their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Canaccord Genuity Group increased their price target on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.46.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.50% of the stock is owned by company insiders.

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.