Exchange Traded Concepts LLC decreased its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX – Free Report) by 27.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,426 shares of the company’s stock after selling 6,483 shares during the period. Exchange Traded Concepts LLC’s holdings in Tango Therapeutics were worth $134,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Tango Therapeutics in the second quarter worth about $54,000. Paloma Partners Management Co purchased a new position in shares of Tango Therapeutics in the 1st quarter valued at approximately $80,000. Principal Financial Group Inc. bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $90,000. Quarry LP purchased a new stake in Tango Therapeutics in the second quarter worth $99,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.
Tango Therapeutics Stock Performance
NASDAQ:TNGX opened at $6.64 on Wednesday. The firm has a market cap of $709.46 million, a P/E ratio of -5.88 and a beta of 0.81. Tango Therapeutics, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $13.01. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $8.50.
Insiders Place Their Bets
In other news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.53, for a total transaction of $709,722.00. Following the transaction, the insider now directly owns 16,859,075 shares of the company’s stock, valued at $177,526,059.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 667,400 shares of company stock valued at $7,122,622. Corporate insiders own 6.20% of the company’s stock.
Wall Street Analyst Weigh In
TNGX has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. Wedbush raised their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Seven 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, the stock has a consensus rating of “Buy” and a consensus price target of $15.14.
Read Our Latest Report on Tango Therapeutics
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.
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