Avoro Capital Advisors LLC Takes $4.58 Million Position in Tango Therapeutics, Inc. $TNGX

Avoro Capital Advisors LLC acquired a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 545,000 shares of the company’s stock, valued at approximately $4,578,000. Avoro Capital Advisors LLC owned approximately 0.40% of Tango Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its stake in shares of Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc grew its position in Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after acquiring an additional 1,640 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Tango Therapeutics by 78.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock worth $40,000 after acquiring an additional 3,452 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Tango Therapeutics by 44.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock worth $49,000 after acquiring an additional 2,907 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in shares of Tango Therapeutics in the second quarter worth about $51,000. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Trading Up 0.9%

TNGX opened at $17.30 on Friday. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $17.63. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -19.88 and a beta of 1.76. The company’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $9.79.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. As a group, equities analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HC Wainwright lifted their price target on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday, March 6th. Piper Sandler raised their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Stifel Nicolaus increased their price target on Tango Therapeutics from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Wall Street Zen downgraded Tango Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the transaction, the chief financial officer owned 184,297 shares of the company’s stock, valued at $2,259,481.22. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the completion of the transaction, the director directly owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 133,884 shares of company stock worth $1,724,622. Corporate insiders own 7.50% of the company’s stock.

Tango Therapeutics Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.