Wellington Management Group LLP Raises Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Wellington Management Group LLP grew its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 110.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,228 shares of the company’s stock after purchasing an additional 89,481 shares during the quarter. Wellington Management Group LLP owned approximately 0.17% of Tango Therapeutics worth $1,685,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TNGX. Boxer Capital LLC grew its holdings in shares of Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tango Therapeutics by 205.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock worth $4,136,000 after buying an additional 247,234 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Tango Therapeutics by 47.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock valued at $19,760,000 after purchasing an additional 564,971 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Tango Therapeutics by 421.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Tango Therapeutics by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock worth $33,103,000 after acquiring an additional 197,624 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Mva Investors, Llc sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total value of $456,600.00. Following the transaction, the insider now directly owns 483,524 shares of the company’s stock, valued at approximately $3,679,617.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 198,000 shares of company stock worth $1,469,970 over the last quarter. 6.20% of the stock is owned by corporate insiders.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $9.00 on Tuesday. Tango Therapeutics, Inc. has a 1 year low of $2.88 and a 1 year high of $13.03. The company’s 50 day simple moving average is $7.85 and its 200 day simple moving average is $9.29. The company has a market capitalization of $961.65 million, a price-to-earnings ratio of -7.96 and a beta of 0.83.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Equities analysts expect that Tango Therapeutics, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several research analyst reports. Wedbush cut their price target on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Barclays reduced their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Guggenheim upgraded Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. HC Wainwright decreased their price objective on shares of Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, Cantor Fitzgerald assumed coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $14.17.

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.