Tango Therapeutics, Inc. $TNGX Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 96.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 973,309 shares of the company’s stock after purchasing an additional 478,203 shares during the period. Acadian Asset Management LLC owned approximately 0.90% of Tango Therapeutics worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Deutsche Bank AG lifted its position in Tango Therapeutics by 24.1% in the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock valued at $113,000 after buying an additional 7,128 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics in the fourth quarter valued at about $35,000. Squarepoint Ops LLC acquired a new position in shares of Tango Therapeutics in the 4th quarter worth approximately $40,000. Northern Trust Corp lifted its holdings in shares of Tango Therapeutics by 7.1% in the 4th quarter. Northern Trust Corp now owns 513,079 shares of the company’s stock worth $1,585,000 after acquiring an additional 33,829 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Tango Therapeutics in the 4th quarter worth approximately $771,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several recent analyst reports. Guggenheim upped their price objective on shares of Tango Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. 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 on the stock. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.50.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 363,541 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.04, for a total value of $2,559,328.64. Following the sale, the insider owned 14,363,975 shares of the company’s stock, valued at $101,122,384. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 2,495,100 shares of company stock valued at $17,494,700. 7.50% of the stock is owned by company insiders.

Tango Therapeutics Stock Up 3.7%

Tango Therapeutics stock opened at $7.62 on Thursday. The firm has a market cap of $847.80 million, a PE ratio of -5.73 and a beta of 1.64. Tango Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $8.98. The company’s 50 day moving average is $6.69 and its two-hundred day moving average is $3.97.

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

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.