Principal Financial Group Inc. Takes Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Principal Financial Group Inc. purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,497 shares of the company’s stock, valued at approximately $90,000.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of 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 valued at $102,000 after buying an additional 1,426 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Tango Therapeutics by 16.0% during the 1st quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after buying an additional 4,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tango Therapeutics by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after buying an additional 7,128 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Tango Therapeutics by 65.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,569 shares of the company’s stock valued at $155,000 after buying an additional 7,776 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at $80,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TNGX shares. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Tuesday, September 10th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Wedbush increased their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Barclays reduced their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $9.61 on Tuesday. The company’s fifty day moving average price is $10.02 and its 200-day moving average price is $8.81. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.50 and a beta of 0.84. Tango Therapeutics, Inc. has a one year low of $5.15 and a one year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The firm 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, equities research analysts expect that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Mva Investors, Llc sold 29,000 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $8.57, for a total value of $248,530.00. Following the transaction, the insider now owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Rock Ventures Iv L.P. Third sold 75,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.56, for a total value of $867,000.00. Following the completion of the sale, the insider now owns 16,926,475 shares of the company’s stock, valued at approximately $195,670,051. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mva Investors, Llc sold 29,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $8.57, for a total transaction of $248,530.00. Following the completion of the sale, the insider now directly owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The disclosure for this sale can be found here. Insiders have sold 1,752,642 shares of company stock valued at $17,563,385 in the last quarter. Insiders own 6.20% of the company’s stock.

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.