Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,623 shares of the company’s stock after purchasing an additional 15,373 shares during the period. Bank of New York Mellon Corp owned 0.13% of Tango Therapeutics worth $1,215,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TNGX. Dynamic Technology Lab Private Ltd bought a new position in Tango Therapeutics during the fourth quarter valued at approximately $136,000. RTW Investments LP acquired a new position in shares of Tango Therapeutics during the 4th quarter worth $19,471,000. Braslyn Ltd. bought a new position in shares of Tango Therapeutics during the 4th quarter valued at $267,000. Boxer Capital LLC lifted its stake in shares of Tango Therapeutics by 15.1% in the 4th 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 last quarter. Finally, Old Well Partners LLC bought a new stake in Tango Therapeutics in the fourth quarter worth $182,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Mva Investors, Llc sold 29,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $8.57, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the completion of the transaction, the insider now directly owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mva Investors, Llc sold 29,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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. Over the last three months, insiders sold 1,820,042 shares of company stock valued at $18,273,107. Insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TNGX. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, September 10th. Wedbush raised their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.14.

Tango Therapeutics Price Performance

Shares of TNGX opened at $8.30 on Friday. The company has a market capitalization of $886.82 million, a P/E ratio of -7.35 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. The business’s 50 day simple moving average is $9.92 and its 200-day simple moving average is $8.76.

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

About Tango Therapeutics

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.