Simplicity Solutions LLC Makes New Investment in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Simplicity Solutions LLC purchased a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 4th quarter, Holdings Channel.com reports. The fund purchased 26,961 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Tango Therapeutics by 12.3% during the third quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after acquiring an additional 1,276,945 shares during the last quarter. BlackRock Inc. raised its stake in shares of Tango Therapeutics by 2.4% during the second quarter. BlackRock Inc. now owns 3,622,476 shares of the company’s stock valued at $12,027,000 after acquiring an additional 83,564 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tango Therapeutics by 7.2% during the third quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock valued at $33,103,000 after acquiring an additional 197,624 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Tango Therapeutics by 47.5% during the third 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 acquiring an additional 564,971 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Tango Therapeutics by 5.9% during the second quarter. Geode Capital Management LLC now owns 938,837 shares of the company’s stock valued at $3,117,000 after acquiring an additional 51,966 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TNGX shares. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating for the company. HC Wainwright upped their price objective on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Wedbush reiterated an “outperform” rating and set a $18.00 price target on shares of Tango Therapeutics in a research report on Monday, March 18th. Finally, Piper Sandler assumed coverage on shares of Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.25.

Insider Activity at Tango Therapeutics

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

Tango Therapeutics Stock Down 0.8 %

NASDAQ:TNGX opened at $7.31 on Friday. The company’s 50 day moving average price is $9.42 and its 200-day moving average price is $9.44. Tango Therapeutics, Inc. has a 52 week low of $2.47 and a 52 week high of $13.03. The stock has a market cap of $780.27 million, a price-to-earnings ratio of -6.65 and a beta of 0.83.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. As a group, sell-side analysts anticipate that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

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.