Trv Gp Iv LLC Reduces Stock Holdings in Tango Therapeutics, Inc. $TNGX

Trv Gp Iv LLC trimmed its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 17.8% in the third quarter, HoldingsChannel reports. The firm owned 13,863,975 shares of the company’s stock after selling 2,995,100 shares during the quarter. Tango Therapeutics accounts for about 42.5% of Trv Gp Iv LLC’s holdings, making the stock its 2nd largest holding. Trv Gp Iv LLC owned approximately 0.10% of Tango Therapeutics worth $116,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TNGX. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $30,235,000. Vanguard Group Inc. raised its stake in shares of Tango Therapeutics by 25.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,052,003 shares of the company’s stock worth $42,437,000 after purchasing an additional 1,025,203 shares during the period. Nantahala Capital Management LLC boosted its holdings in shares of Tango Therapeutics by 15.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock worth $17,611,000 after buying an additional 451,611 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Tango Therapeutics by 0.9% during the second quarter. Balyasny Asset Management L.P. now owns 3,247,463 shares of the company’s stock valued at $16,627,000 after buying an additional 27,892 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Tango Therapeutics by 27.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock worth $9,058,000 after purchasing an additional 385,476 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insider Activity

In related news, insider Adam Crystal sold 54,345 shares of Tango Therapeutics stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the sale, the insider owned 132,873 shares in the company, valued at $1,696,788.21. The trade was a 29.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 133,884 shares of company stock valued at $1,724,622. Company insiders own 7.50% of the company’s stock.

Tango Therapeutics Stock Up 0.9%

Shares of TNGX opened at $17.30 on Friday. The firm has a fifty day simple moving average of $12.67 and a two-hundred day simple moving average of $9.79. Tango Therapeutics, Inc. has a twelve month low of $1.03 and a twelve month high of $17.63. The stock has a market capitalization of $2.47 billion, a P/E ratio of -19.88 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. Sell-side analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TNGX has been the topic of a number of research reports. HC Wainwright boosted their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, March 6th. B. Riley Financial lifted 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. Guggenheim boosted their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Finally, Mizuho lifted their price target on shares of Tango Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.50.

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.