Russell Investments Group Ltd. Buys 49,116 Shares of Tango Therapeutics, Inc. $TNGX

Russell Investments Group Ltd. raised its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 2,376.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 51,183 shares of the company’s stock after purchasing an additional 49,116 shares during the quarter. Russell Investments Group Ltd.’s holdings in Tango Therapeutics were worth $73,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Tango Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company’s stock valued at $69,000 after acquiring an additional 7,599 shares during the period. Renaissance Technologies LLC bought a new stake in Tango Therapeutics in the fourth quarter valued at about $66,000. Dimensional Fund Advisors LP increased its stake in Tango Therapeutics by 83.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,776 shares of the company’s stock valued at $2,048,000 after acquiring an additional 302,087 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Tango Therapeutics by 29.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company’s stock valued at $65,000 after acquiring an additional 4,813 shares during the period. Finally, Northern Trust Corp increased its stake in Tango Therapeutics by 7.1% in the fourth quarter. Northern Trust Corp now owns 513,079 shares of the company’s stock valued at $1,585,000 after acquiring an additional 33,829 shares during the period. Institutional investors own 78.99% of the company’s stock.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $7.01, for a total transaction of $7,711,000.00. Following the transaction, the insider directly owned 15,759,075 shares in the company, valued at approximately $110,471,115.75. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TNGX. Piper Sandler began coverage on shares of Tango Therapeutics in a research note on Monday, August 18th. They issued an “overweight” rating and a $11.00 target price on the stock. Guggenheim upped their target price on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $10.50.

Tango Therapeutics Trading Up 0.6%

Shares of Tango Therapeutics stock opened at $6.70 on Thursday. The stock has a market capitalization of $745.44 million, a price-to-earnings ratio of -5.04 and a beta of 1.64. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $11.92. The firm’s 50-day moving average price is $6.41 and its two-hundred day moving average price is $3.66.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $3.18 million for the quarter, compared to analysts’ expectations of $6.41 million. Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Tango Therapeutics 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.