Tango Therapeutics, Inc. $TNGX Stake Cut by American Century Companies Inc.

American Century Companies Inc. reduced its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 41.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,146 shares of the company’s stock after selling 45,302 shares during the period. American Century Companies Inc. owned about 0.06% of Tango Therapeutics worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNGX. Orbimed Advisors LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $1,700,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $1,599,000. Woodline Partners LP purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $1,219,000. Dimensional Fund Advisors LP raised its stake in shares of Tango Therapeutics by 83.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 662,776 shares of the company’s stock worth $2,048,000 after purchasing an additional 302,087 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $771,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX opened at $6.94 on Monday. The firm has a market cap of $772.14 million, a price-to-earnings ratio of -5.22 and a beta of 1.64. The business’s 50-day simple moving average is $6.48 and its 200-day simple moving average is $3.74. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $11.92.

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

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 302,194 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $7.00, for a total value of $2,115,358.00. Following the sale, the insider owned 15,456,881 shares of the company’s stock, valued at $108,198,167. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.50% of the stock is owned by company insiders.

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.