Paloma Partners Management Co Makes New Investment in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Paloma Partners Management Co bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,040 shares of the company’s stock, valued at approximately $80,000.

A number of other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at $272,000. SG Americas Securities LLC increased its stake in shares of Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after acquiring an additional 4,203 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tango Therapeutics by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock worth $230,000 after acquiring an additional 7,128 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

TNGX has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target on the stock. Barclays reduced their price objective on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Wedbush cut their target price on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.86.

Insider Buying and Selling

In other Tango Therapeutics news, insider Mva Investors, Llc sold 63,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $7.24, for a total value of $456,120.00. Following the completion of the sale, the insider now directly owns 420,524 shares of the company’s stock, valued at approximately $3,044,593.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Mva Investors, Llc sold 63,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $7.24, for a total value of $456,120.00. Following the completion of the transaction, the insider now directly owns 420,524 shares in the company, valued at $3,044,593.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total transaction of $1,964,000.00. Following the completion of the transaction, the insider now owns 17,872,074 shares of the company’s stock, valued at approximately $175,503,766.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,350,642 shares of company stock valued at $12,620,455. 6.20% of the stock is owned by company insiders.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX traded down $0.07 during midday trading on Tuesday, hitting $9.69. The company’s stock had a trading volume of 240,497 shares, compared to its average volume of 686,768. Tango Therapeutics, Inc. has a fifty-two week low of $3.05 and a fifty-two week high of $13.03. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -8.64 and a beta of 0.83. The stock’s 50 day simple moving average is $8.57 and its 200 day simple moving average is $9.21.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. The business had revenue of $6.47 million during the quarter, compared to analyst estimates of $7.13 million. As a group, analysts anticipate that Tango Therapeutics, Inc. will post -1.33 EPS for the current year.

Tango Therapeutics Company Profile

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.