Vanguard Group Inc. Increases Stock Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Vanguard Group Inc. grew its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 7.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,939,843 shares of the company’s stock after buying an additional 197,624 shares during the period. Vanguard Group Inc.’s holdings in Tango Therapeutics were worth $33,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Tango Therapeutics by 205.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock valued at $4,136,000 after buying an additional 247,234 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Tango Therapeutics during the third quarter valued at $653,000. FMR LLC increased its position in Tango Therapeutics by 12.3% during the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock worth $131,131,000 after purchasing an additional 1,276,945 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Tango Therapeutics by 47.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock valued at $19,760,000 after purchasing an additional 564,971 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Tango Therapeutics in the 3rd quarter valued at about $8,937,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TNGX has been the subject of a number of recent research reports. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Monday, March 18th. Piper Sandler initiated coverage on Tango Therapeutics in a research note on Monday, February 12th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, HC Wainwright lifted their price objective on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics currently has an average rating of “Buy” and a consensus target price of $17.25.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $7.59 on Friday. The firm has a market capitalization of $810.00 million, a price-to-earnings ratio of -6.90 and a beta of 0.83. Tango Therapeutics, Inc. has a one year low of $2.47 and a one year high of $13.03. The company has a 50 day moving average price of $10.05 and a 200 day moving average price of $9.60.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the completion of the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at approximately $230,417,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $58,793.36. Following the transaction, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at $19,337,677.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares in the company, valued at approximately $230,417,700. The disclosure for this sale can be found here. Insiders sold a total of 174,731 shares of company stock worth $2,103,703 in the last ninety days. Insiders own 6.20% of the company’s stock.

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.