Great Lakes Advisors LLC Makes New Investment in Tango Therapeutics, Inc. $TNGX

Great Lakes Advisors LLC acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the third quarter, Holdings Channel.com reports. The firm acquired 423,851 shares of the company’s stock, valued at approximately $3,560,000.

Several other hedge funds have also recently modified their holdings of TNGX. CWM LLC increased its position in shares of Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after purchasing an additional 3,167 shares in the last quarter. Legal & General Group Plc boosted its holdings in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Tango Therapeutics by 78.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock worth $40,000 after acquiring an additional 3,452 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Tango Therapeutics by 44.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock worth $49,000 after purchasing an additional 2,907 shares during the last quarter. Finally, Northeast Financial Consultants Inc purchased a new position in shares of Tango Therapeutics during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TNGX. Stifel Nicolaus assumed coverage on shares of Tango Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective for the company. Wall Street Zen raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. B. Riley boosted their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wolfe Research initiated coverage on shares of Tango Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tango Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $13.60.

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX opened at $11.61 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of -12.48 and a beta of 1.75. Tango Therapeutics, Inc. has a 1 year low of $1.03 and a 1 year high of $13.46. The firm’s 50 day moving average price is $10.24 and its 200 day moving average price is $8.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The company had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. As a group, equities analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS 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.