Sei Investments Co. Cuts Stake in Tango Therapeutics, Inc. $TNGX

Sei Investments Co. lessened its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 40.7% in the 1st quarter, Holdings Channel reports. The fund owned 31,962 shares of the company’s stock after selling 21,965 shares during the period. Sei Investments Co.’s holdings in Tango Therapeutics were worth $669,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in Tango Therapeutics during the fourth quarter worth about $35,000. Dynamic Technology Lab Private Ltd boosted its holdings in Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 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 in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Tango Therapeutics during the 4th quarter worth approximately $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $25.60 on Friday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -30.12 and a beta of 1.16. The business’s 50 day simple moving average is $28.92 and its 200-day simple moving average is $22.24. Tango Therapeutics, Inc. has a 12 month low of $6.25 and a 12 month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, equities analysts anticipate that Tango Therapeutics, Inc. will post -1.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Raymond James Financial cut Tango Therapeutics to a “hold” rating in a research report on Thursday, June 25th. Canaccord Genuity Group raised their target price on Tango Therapeutics from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, June 29th. Guggenheim boosted their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $43.31.

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.