Vivo Capital LLC Purchases Shares of 600,000 Tango Therapeutics, Inc. $TNGX

Vivo Capital LLC purchased a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 600,000 shares of the company’s stock, valued at approximately $3,072,000. Vivo Capital LLC owned 0.54% of Tango Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after buying an additional 1,640 shares in the last quarter. CWM LLC boosted its position in shares of Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after buying an additional 3,167 shares during the period. Ameritas Investment Partners Inc. grew its stake in Tango Therapeutics by 78.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after acquiring an additional 3,452 shares in the last quarter. ProShare Advisors LLC increased its stake in Tango Therapeutics by 30.1% in the 2nd quarter. ProShare Advisors LLC now owns 19,775 shares of the company’s stock valued at $101,000 after buying an additional 4,570 shares during the period. Finally, Intech Investment Management LLC boosted its position in Tango Therapeutics by 13.7% during the second quarter. Intech Investment Management LLC now owns 45,675 shares of the company’s stock valued at $234,000 after purchasing an additional 5,518 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TNGX. Guggenheim upped their price objective on shares of Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Stifel Nicolaus assumed coverage on shares of Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Finally, Piper Sandler initiated coverage on Tango Therapeutics in a research note on Monday, August 18th. They set an “overweight” rating and a $11.00 price target on the stock. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.00.

Tango Therapeutics Stock Down 0.3%

Shares of TNGX stock opened at $9.60 on Tuesday. The firm has a fifty day moving average of $8.58 and a 200-day moving average of $6.86. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $11.20. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.32 and a beta of 1.71.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The company had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. On average, equities analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Insider Buying and Selling at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 500,000 shares of Tango Therapeutics stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $8.02, for a total value of $4,010,000.00. Following the sale, the insider owned 13,863,975 shares of the company’s stock, valued at approximately $111,189,079.50. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 1,340,942 shares of company stock valued at $11,414,949. 7.50% of the stock is owned by company insiders.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.