Charles Schwab Investment Management Inc. Acquires 26,192 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Charles Schwab Investment Management Inc. grew its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 513,429 shares of the company’s stock after purchasing an additional 26,192 shares during the period. Charles Schwab Investment Management Inc. owned about 0.48% of Tango Therapeutics worth $1,586,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in Tango Therapeutics in the 4th quarter valued at $218,000. Congress Asset Management Co. grew its stake in shares of Tango Therapeutics by 9.0% in the 4th quarter. Congress Asset Management Co. now owns 227,989 shares of the company’s stock worth $704,000 after acquiring an additional 18,919 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $82,000. Barclays PLC lifted its position in shares of Tango Therapeutics by 78.3% during the third quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after purchasing an additional 55,470 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 142,710 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $1.47 on Friday. The company has a market capitalization of $158.92 million, a P/E ratio of -1.25 and a beta of 0.87. The company’s 50-day moving average is $2.37 and its 200 day moving average is $4.06. Tango Therapeutics, Inc. has a fifty-two week low of $1.43 and a fifty-two week high of $12.02.

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

Insider Activity at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction 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 owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 24,268 shares of company stock worth $72,561. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

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

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.