287,900 Shares in Tango Therapeutics, Inc. $TNGX Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB acquired a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, HoldingsChannel reports. The firm acquired 287,900 shares of the company’s stock, valued at approximately $9,000,000.

A number of other hedge funds have also made changes to their positions in TNGX. Adage Capital Partners GP L.L.C. boosted its stake in shares of Tango Therapeutics by 322.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Caligan Partners LP acquired a new position in Tango Therapeutics in the 4th quarter valued at $33,047,000. Goldman Sachs Group Inc. raised its stake in Tango Therapeutics by 227.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after purchasing an additional 3,432,939 shares during the last quarter. Logos Global Management LP lifted its holdings in Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after purchasing an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new position in Tango Therapeutics in the 3rd quarter valued at $25,924,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TNGX. Guggenheim upped their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $16.00 to $24.00 in a research note on Thursday, May 14th. Jefferies Financial Group raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $27.00 to $60.00 in a research note on Thursday, June 25th. Canaccord Genuity Group boosted their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the company an “outperform” rating in a research note on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.31.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $25.65 on Friday. The company has a market capitalization of $4.32 billion, a PE ratio of -30.18 and a beta of 1.16. The firm’s 50-day moving average is $28.81 and its two-hundred day moving average is $22.22. Tango Therapeutics, Inc. has a 12 month low of $6.25 and a 12 month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results 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). Sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.31 EPS for the current year.

Tango Therapeutics 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.