SG Americas Securities LLC Makes New Investment in Tango Therapeutics, Inc. (NASDAQ:TNGX)

SG Americas Securities LLC acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,644 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Tango Therapeutics by 110.8% during the 4th quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock valued at $1,685,000 after buying an additional 89,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after buying an additional 7,128 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tango Therapeutics during the 1st quarter valued at about $272,000. Vanguard Group Inc. lifted its holdings in shares of Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after buying an additional 1,426 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Stock Up 0.3 %

Shares of NASDAQ TNGX opened at $6.29 on Friday. The business’s 50 day moving average is $8.79 and its two-hundred day moving average is $8.47. The company has a market cap of $672.06 million, a P/E ratio of -5.57 and a beta of 0.81. Tango Therapeutics, Inc. has a 12 month low of $6.12 and a 12 month high of $13.01.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wedbush lifted their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group initiated coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.14.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00. Following the sale, the insider now directly owns 17,486,475 shares in the company, valued at approximately $171,367,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00. Following the sale, the insider now directly owns 17,486,475 shares in the company, valued at approximately $171,367,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the sale, the insider now owns 7,573,642 shares in the company, valued at approximately $53,394,176.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,292,400 shares of company stock valued at $11,528,872 in the last three months. Company insiders own 6.20% of the company’s stock.

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.