Tango Therapeutics, Inc. (NASDAQ:TNGX) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 59.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,651 shares of the company’s stock after selling 30,323 shares during the period. AQR Capital Management LLC’s holdings in Tango Therapeutics were worth $177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in Tango Therapeutics during the second quarter valued at $54,000. Paloma Partners Management Co acquired a new position in Tango Therapeutics during the first quarter valued at $80,000. Principal Financial Group Inc. acquired a new position in Tango Therapeutics during the second quarter valued at $90,000. Price T Rowe Associates Inc. MD lifted its position in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Tango Therapeutics by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Trading Up 6.6 %

TNGX opened at $7.46 on Friday. The firm has a market capitalization of $797.07 million, a PE ratio of -6.60 and a beta of 0.81. Tango Therapeutics, Inc. has a twelve month low of $6.33 and a twelve month high of $13.01. The firm’s 50-day moving average price is $8.98 and its 200 day moving average price is $8.50.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The firm had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. As a group, analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total value of $1,964,000.00. Following the transaction, the insider now directly owns 17,872,074 shares in the company, valued at approximately $175,503,766.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,130,140 shares of company stock worth $11,656,219. 6.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Wedbush boosted 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $15.14.

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.