Stempoint Capital LP Takes $4.20 Million Position in Tango Therapeutics, Inc. $TNGX

Stempoint Capital LP purchased a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 200,919 shares of the company’s stock, valued at approximately $4,203,000.

Several other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in Tango Therapeutics in the fourth quarter worth $35,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc lifted its position 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 during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Tango Therapeutics in the 4th quarter worth about $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares during the period. 78.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of recent research reports. Leerink Partners boosted their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wedbush raised their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Mizuho lifted their target price on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $42.15.

Tango Therapeutics Stock Performance

TNGX stock opened at $25.85 on Thursday. Tango Therapeutics, Inc. has a 1 year low of $5.77 and a 1 year high of $34.39. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -31.14 and a beta of 1.12. The stock’s fifty day moving average is $27.42 and its two-hundred day moving average is $21.03.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). As a group, analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 81,000 shares of company stock valued at $1,989,630. Company insiders own 6.50% of the company’s stock.

Tango Therapeutics Company 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.