DV Trading LLC Takes $6.29 Million Position in Tango Therapeutics, Inc. $TNGX

DV Trading LLC acquired a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 300,648 shares of the company’s stock, valued at approximately $6,290,000. Tango Therapeutics accounts for 0.1% of DV Trading LLC’s portfolio, making the stock its 8th biggest holding. DV Trading LLC owned 0.21% of Tango Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its position in Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the period. Caligan Partners LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at about $33,047,000. Goldman Sachs Group Inc. lifted its holdings in shares of Tango Therapeutics by 227.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after buying an additional 3,432,939 shares during the period. Logos Global Management LP lifted its holdings in shares of Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after buying an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new stake in shares of Tango Therapeutics in the third quarter worth about $25,924,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TNGX. Mizuho raised their target price on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Stifel Nicolaus upped their price objective on Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Raymond James Financial lowered Tango Therapeutics to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings cut shares of Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Finally, Piper Sandler lowered shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $24.00 in a report on Thursday, May 14th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.15.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $27.18 on Friday. The stock has a market capitalization of $3.93 billion, a PE ratio of -32.75 and a beta of 1.12. Tango Therapeutics, Inc. has a 12 month low of $5.77 and a 12 month high of $34.39. The business has a 50 day simple moving average of $27.68 and a 200-day simple moving average of $21.18.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). On average, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.50% of the company’s stock.

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.