Tango Therapeutics, Inc. $TNGX Shares Sold by Siren L.L.C.

Siren L.L.C. cut its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 30.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,657,105 shares of the company’s stock after selling 2,508,269 shares during the quarter. Tango Therapeutics makes up 3.3% of Siren L.L.C.’s portfolio, making the stock its 6th largest holding. Siren L.L.C. owned about 3.92% of Tango Therapeutics worth $118,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tudor Investment Corp ET AL acquired a new stake in Tango Therapeutics in the third quarter valued at approximately $450,000. Mass General Brigham Inc acquired a new position in Tango Therapeutics during the 4th quarter worth approximately $3,138,000. Vanguard Group Inc. grew its holdings in Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Candriam S.C.A. increased its position in shares of Tango Therapeutics by 79.1% in the 1st quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock valued at $26,553,000 after purchasing an additional 560,434 shares during the last quarter. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $1,906,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James Financial cut shares of Tango Therapeutics to a “hold” rating in a research report on Thursday, June 25th. Leerink Partners raised their price target on Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Stifel Nicolaus lifted their price target on Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Piper Sandler cut Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $24.00 in a research report on Thursday, May 14th. Thirteen research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.15.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics 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 transaction, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 81,000 shares of company stock valued at $1,989,630 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Tango Therapeutics Trading Down 2.3%

Shares of NASDAQ:TNGX opened at $27.45 on Friday. The firm has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $20.57. Tango Therapeutics, Inc. has a twelve month low of $5.77 and a twelve month high of $34.39. The company has a market capitalization of $3.97 billion, a PE ratio of -33.07 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

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.