Tango Therapeutics, Inc. $TNGX Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 525,665 shares of the company’s stock after selling 56,597 shares during the quarter. Pictet Asset Management Holding SA owned about 0.31% of Tango Therapeutics worth $13,115,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TNGX. BlackRock Inc. bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $388,826,000. TRV GP IV LLC acquired a new position in Tango Therapeutics during the 2nd quarter worth $120,181,383,000. Jupiter Topco LLC acquired a new position in Tango Therapeutics during the 2nd quarter valued at about $157,989,000. Seven Fleet Capital Management LP increased its stake in shares of 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 acquiring an additional 2,425,484 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Tango Therapeutics during the second quarter worth approximately $62,849,000. 78.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TNGX has been the subject of several research analyst reports. Guggenheim upped their price objective on Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wedbush cut their target price on shares of Tango Therapeutics from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday. Zacks Research cut shares of Tango Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Wall Street Zen lowered Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tango Therapeutics in a report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tango Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $45.54.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Jessica Newcomb sold 7,031 shares of Tango Therapeutics stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $22.42, for a total transaction of $157,635.02. Following the completion of the sale, the insider directly owned 52,090 shares in the company, valued at $1,167,857.80. The trade was a 11.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Crystal sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total value of $112,100.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $2,594,958.06. The trade was a 4.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 47,231 shares of company stock valued at $1,129,029. 6.50% of the stock is owned by corporate insiders.

Key Stories Impacting Tango Therapeutics

These are some of the TNGX stories that stood out recently:

• Positive Sentiment: Canaccord Genuity maintained its Buy rating on TNGX, while JPMorgan also issued a positive outlook. Separate coverage linked an analyst upgrade to a recent share-price rally. Canaccord Genuity rating JPMorgan outlook Analyst upgrade and rally
• Positive Sentiment: TNGX shares recently moved above their 50-day moving average, a potentially supportive technical signal, despite the earnings miss. Shares move above 50-day average
• Negative Sentiment: Wedbush cut its price target, adding a less-bullish analyst signal. Separately, Tango’s reported quarterly loss per share was wider than analysts expected. Wedbush target cut

Tango Therapeutics Trading Down 3.4%

Shares of TNGX stock opened at $24.85 on Friday. Tango Therapeutics, Inc. has a 1-year low of $7.49 and a 1-year high of $34.39. The stock’s fifty day simple moving average is $23.47 and its 200-day simple moving average is $22.72.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Monday, November 9th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Equities analysts predict that Tango Therapeutics, Inc. will post -1.46 earnings per share for the current year.

Tango Therapeutics Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.