Tango Therapeutics, Inc. (NASDAQ:TNGX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 570.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,902 shares of the company’s stock after buying an additional 11,829 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tango Therapeutics were worth $138,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in Tango Therapeutics by 421.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock worth $117,000 after buying an additional 9,530 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Tango Therapeutics during the 3rd quarter worth approximately $144,000. Exchange Traded Concepts LLC lifted its position in Tango Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,474 shares of the company’s stock worth $163,000 after acquiring an additional 4,177 shares during the period. L2 Asset Management LLC acquired a new stake in Tango Therapeutics during the 3rd quarter worth approximately $185,000. Finally, Clear Harbor Asset Management LLC lifted its position in Tango Therapeutics by 5.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 21,200 shares of the company’s stock worth $210,000 after acquiring an additional 1,069 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

TNGX opened at $7.91 on Thursday. The business has a 50 day simple moving average of $8.36 and a 200-day simple moving average of $9.34. The stock has a market capitalization of $844.31 million, a P/E ratio of -7.19 and a beta of 0.84. Tango Therapeutics, Inc. has a 12 month low of $2.47 and a 12 month high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $5.43 million during the quarter, compared to analyst estimates of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. Research analysts anticipate that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Tango Therapeutics in a research report on Monday, March 18th. Piper Sandler assumed coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 price objective for the company. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating for the company. Finally, HC Wainwright increased their price objective on Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tango Therapeutics presently has an average rating of “Buy” and an average price target of $17.25.

Insider Buying and Selling

In related news, insider Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.43, for a total transaction of $557,250.00. Following the completion of the transaction, the insider now directly owns 618,524 shares of the company’s stock, valued at $4,595,633.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction on Tuesday, February 20th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mva Investors, Llc sold 75,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.43, for a total value of $557,250.00. Following the transaction, the insider now directly owns 618,524 shares of the company’s stock, valued at approximately $4,595,633.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,500 shares of company stock valued at $2,963,850. 6.20% of the stock is owned by insiders.

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.