Tango Therapeutics, Inc. $TNGX Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 68.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 127,801 shares of the company’s stock after buying an additional 52,084 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tango Therapeutics were worth $3,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TNGX. Wellington Management Group LLP raised its position in shares of Tango Therapeutics by 2.7% during the 2nd quarter. Wellington Management Group LLP now owns 297,106 shares of the company’s stock valued at $9,288,000 after acquiring an additional 7,926 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in Tango Therapeutics in the second quarter worth $15,650,600. Jefferies Financial Group Inc. bought a new stake in Tango Therapeutics during the second quarter valued at $62,849,000. Seven Fleet Capital Management LP increased its stake in Tango Therapeutics by 302.2% during the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after purchasing an additional 2,425,484 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in shares of Tango Therapeutics during the second quarter worth $1,220,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TNGX. Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $16.00 to $24.00 in a research report on Thursday, May 14th. Leerink Partners boosted their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wedbush increased 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. HC Wainwright increased their price objective on shares of Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, B. Riley Financial reissued a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.46.

Tango Therapeutics Stock Performance

TNGX stock opened at $24.00 on Thursday. 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 $4.05 billion, a price-to-earnings ratio of -28.23 and a beta of 1.12. The stock’s fifty day moving average is $26.59 and its two-hundred day moving average is $23.78.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, analysts predict that Tango Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were 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 of the company’s stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.50% of the stock is owned by insiders.

Tango Therapeutics Company 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.