Massachusetts Financial Services Co. MA Acquires New Shares in Tango Therapeutics, Inc. $TNGX

Massachusetts Financial Services Co. MA acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,023 shares of the company’s stock, valued at approximately $248,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Congress Asset Management Co. lifted its holdings in Tango Therapeutics by 2.9% in the fourth quarter. Congress Asset Management Co. now owns 234,628 shares of the company’s stock valued at $2,079,000 after acquiring an additional 6,508 shares during the last quarter. SG Americas Securities LLC acquired a new position in Tango Therapeutics in the fourth quarter valued at approximately $195,000. Tudor Investment Corp ET AL acquired a new position in Tango Therapeutics in the third quarter valued at approximately $450,000. Harvest Investment Services LLC acquired a new position in Tango Therapeutics in the third quarter valued at approximately $267,000. Finally, Vivo Capital LLC lifted its stake in Tango Therapeutics by 29.4% during the third quarter. Vivo Capital LLC now owns 776,699 shares of the company’s stock worth $6,524,000 after purchasing an additional 176,699 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tango Therapeutics

In other news, CFO Daniella Beckman sold 10,317 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 38,460 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total value of $961,500.00. Following the sale, the insider directly owned 112,622 shares in the company, valued at $2,815,550. This represents a 25.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 211,344 shares of company stock valued at $3,499,842. 7.50% of the stock is currently owned by company insiders.

Tango Therapeutics Stock Up 6.4%

NASDAQ:TNGX opened at $26.64 on Friday. The stock’s fifty day moving average is $17.22 and its two-hundred day moving average is $12.19. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $26.81. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -30.62 and a beta of 1.31.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. On average, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TNGX has been the topic of a number of research reports. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Guggenheim upped their price target on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on Tango Therapeutics in a research note on Thursday, April 2nd. They set a “buy” rating and a $30.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Tango Therapeutics from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

About Tango Therapeutics

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.