Walleye Capital LLC Purchases Shares of 192,270 Tango Therapeutics, Inc. $TNGX

Walleye Capital LLC purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the second quarter, Holdings Channel.com reports. The firm purchased 192,270 shares of the company’s stock, valued at approximately $6,010,000.

Several other large investors have also recently made changes to their positions in the business. Legal & General Group Plc raised its position in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Tango Therapeutics by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock valued at $87,000 after buying an additional 2,065 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares during the period. SG Americas Securities LLC increased its holdings in shares of Tango Therapeutics by 10.2% in the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock worth $507,000 after buying an additional 2,251 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tango Therapeutics by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock valued at $10,237,000 after acquiring an additional 2,272 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TNGX has been the subject of several analyst reports. Wall Street Zen cut Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday. Mizuho lifted their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Piper Sandler downgraded Tango Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. UBS Group set a $55.00 price objective on Tango Therapeutics in a research note on Thursday, May 14th. Finally, Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $60.00 in a report on Thursday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.31.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $25.60 on Friday. Tango Therapeutics, Inc. has a 1 year low of $6.25 and a 1 year high of $34.39. The stock has a market capitalization of $4.32 billion, a PE ratio of -30.12 and a beta of 1.16. The business’s 50-day moving average is $28.92 and its 200 day moving average is $22.24.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.34 earnings per share for the current year.

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.