Corient Private Wealth LP Buys Shares of 39,024 Tango Therapeutics, Inc. $TNGX

Corient Private Wealth LP bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,024 shares of the company’s stock, valued at approximately $1,220,000.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Tango Therapeutics in the 2nd quarter valued at $388,826,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Tango Therapeutics by 322.5% during 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 buying an additional 8,096,924 shares in the last quarter. TRV GP IV LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $120,181,383,000. Jupiter Topco LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $157,989,000. Finally, Caligan Partners LP purchased a new position in shares of Tango Therapeutics in the fourth quarter worth about $33,047,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TNGX shares. Mizuho upped their price objective on shares of Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. UBS Group set a $55.00 target price on shares of Tango Therapeutics in a research note on Thursday, May 14th. Leerink Partners upped their price target on Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Weiss Ratings raised Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial lowered Tango Therapeutics to a “hold” rating in a research note on Thursday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.46.

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 sale, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is currently owned by corporate insiders.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $22.52 on Friday. The company has a market capitalization of $3.80 billion, a P/E ratio of -26.49 and a beta of 1.12. The company has a 50 day simple moving average of $27.05 and a 200-day simple moving average of $23.48. Tango Therapeutics, Inc. has a 1 year low of $6.25 and a 1 year high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, research analysts expect that Tango Therapeutics, Inc. will post -1.38 EPS for the current year.

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.