Farallon Capital Management LLC Buys 1,600,000 Shares of Tango Therapeutics, Inc. $TNGX

Farallon Capital Management LLC lifted its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,757,000 shares of the company’s stock after purchasing an additional 1,600,000 shares during the period. Farallon Capital Management LLC owned approximately 7.99% of Tango Therapeutics worth $90,359,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TNGX. Adage Capital Partners GP L.L.C. bought a new position in Tango Therapeutics in the 2nd quarter worth approximately $30,235,000. Commodore Capital LP bought a new position in Tango Therapeutics in the 2nd quarter valued at $7,680,000. Deep Track Capital LP bought a new position in Tango Therapeutics in the 3rd quarter valued at $12,218,000. Vanguard Group Inc. increased its stake in shares of Tango Therapeutics by 25.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,052,003 shares of the company’s stock valued at $42,437,000 after buying an additional 1,025,203 shares during the period. Finally, Invesco Ltd. raised its position in shares of Tango Therapeutics by 982.9% during the third quarter. Invesco Ltd. now owns 1,031,917 shares of the company’s stock worth $8,668,000 after acquiring an additional 936,624 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Adam Crystal sold 54,345 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the sale, the insider directly owned 132,873 shares of the company’s stock, valued at $1,696,788.21. This represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barbara Weber sold 30,519 shares of the 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 $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares in the company, valued at $19,974,654.04. This represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 133,884 shares of company stock worth $1,724,622. Insiders own 7.50% of the company’s stock.

Tango Therapeutics Stock Up 0.9%

TNGX stock opened at $17.30 on Monday. The business’s fifty day moving average is $12.67 and its 200-day moving average is $9.83. The company has a market cap of $2.47 billion, a P/E ratio of -19.88 and a beta of 1.76. Tango Therapeutics, Inc. has a twelve month low of $1.03 and a twelve month high of $17.63.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data 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%. Research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush upped their price target on Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Wall Street Zen lowered Tango Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. B. Riley Financial upped their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Wolfe Research started coverage on shares of Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

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.