Jefferies Financial Group Inc. Invests $62.85 Million in Tango Therapeutics, Inc. $TNGX

Jefferies Financial Group Inc. bought a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, Holdings Channel reports. The fund bought 2,010,534 shares of the company’s stock, valued at approximately $62,849,000.

Several other large investors have also recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in Tango Therapeutics during the second quarter worth approximately $35,000. Global Retirement Partners LLC bought a new position in shares of Tango Therapeutics during the second quarter worth approximately $122,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after purchasing an additional 4,464 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in Tango Therapeutics during the 4th quarter worth approximately $40,000. Finally, State of Wyoming acquired a new position in Tango Therapeutics in the 1st quarter valued at $128,000. 78.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $25.28 on Friday. The stock has a fifty day moving average of $27.84 and a 200-day moving average of $23.13. The stock has a market capitalization of $4.26 billion, a P/E ratio of -29.74 and a beta of 1.16. Tango Therapeutics, Inc. has a 52 week low of $6.25 and a 52 week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). On average, research analysts forecast that Tango Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wedbush lifted their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Wolfe Research set a $35.00 price target on Tango Therapeutics and gave the stock an “outperform” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a research note on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective on the stock. Finally, Mizuho raised their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tango Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $43.46.

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.