Bank of New York Mellon Corp Sells 8,715 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Bank of New York Mellon Corp reduced its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,020 shares of the company’s stock after selling 8,715 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of Tango Therapeutics worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after acquiring an additional 489,949 shares during the period. Geode Capital Management LLC raised its stake in Tango Therapeutics by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after acquiring an additional 142,710 shares in the last quarter. Barclays PLC lifted its stake in shares of Tango Therapeutics by 78.3% in the 3rd quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after acquiring an additional 55,470 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Tango Therapeutics during the third quarter worth $247,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tango Therapeutics by 18.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock worth $3,752,000 after purchasing an additional 76,540 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Trading Down 8.7 %

Shares of Tango Therapeutics stock opened at $1.47 on Friday. The firm has a market capitalization of $158.92 million, a P/E ratio of -1.25 and a beta of 0.87. Tango Therapeutics, Inc. has a 12 month low of $1.43 and a 12 month high of $12.02. The business’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $4.09.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). The business had revenue of $4.12 million for the quarter, compared to analysts’ expectations of $7.84 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. Analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tango Therapeutics presently has a consensus rating of “Buy” and an average price target of $12.33.

Insiders Place Their Bets

In other news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the sale, the chief executive officer now directly owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 24,268 shares of company stock worth $72,561 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Tango Therapeutics Company 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.