Arizona State Retirement System Decreases Stock Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Arizona State Retirement System lessened its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,377 shares of the company’s stock after selling 1,642 shares during the period. Arizona State Retirement System’s holdings in Tango Therapeutics were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TNGX. SG Americas Securities LLC bought a new stake in shares of Tango Therapeutics in the 3rd quarter valued at about $233,000. Bank of New York Mellon Corp boosted its stake in Tango Therapeutics by 9.5% in the third quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock valued at $1,742,000 after acquiring an additional 13,418 shares in the last quarter. Strs Ohio grew its holdings in Tango Therapeutics by 71.9% in the third quarter. Strs Ohio now owns 23,900 shares of the company’s stock worth $269,000 after purchasing an additional 10,000 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Tango Therapeutics by 22.2% during the third quarter. Clear Harbor Asset Management LLC now owns 20,131 shares of the company’s stock worth $227,000 after purchasing an additional 3,657 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Tango Therapeutics by 56.2% during the 3rd quarter. Barclays PLC now owns 87,882 shares of the company’s stock valued at $990,000 after purchasing an additional 31,618 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Analyst Ratings Changes

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

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $7.31 on Tuesday. Tango Therapeutics, Inc. has a twelve month low of $2.47 and a twelve month high of $13.03. The company has a market cap of $780.23 million, a PE ratio of -6.65 and a beta of 0.83. The company’s 50 day moving average is $9.32 and its 200 day moving average is $9.40.

Tango Therapeutics (NASDAQ:TNGX) last released 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). Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. The business had revenue of $5.43 million during the quarter, compared to analyst estimates of $7.86 million. Equities research analysts predict that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam Crystal sold 4,288 shares of the business’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 $53,857.28. Following the completion of the transaction, the insider now owns 123,561 shares of the company’s stock, valued at approximately $1,551,926.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Adam Crystal sold 4,288 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the transaction, the insider now directly owns 123,561 shares in the company, valued at approximately $1,551,926.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the chief executive officer now owns 1,539,624 shares in the company, valued at approximately $19,337,677.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,731 shares of company stock valued at $2,103,703. 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.