Tango Therapeutics, Inc. $TNGX Stock: Candriam S.C.A. Lowers Holdings

Candriam S.C.A. trimmed its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 70.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 477,921 shares of the company’s stock after selling 1,152,632 shares during the quarter. Candriam S.C.A.’s holdings in Tango Therapeutics were worth $11,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. TRV GP IV LLC bought a new position in Tango Therapeutics in the 2nd quarter worth $120,181,383,000. BlackRock Inc. acquired a new position in Tango Therapeutics during the 2nd quarter worth $388,826,000. Jupiter Topco LLC bought a new stake in Tango Therapeutics during the second quarter valued at about $157,989,000. Seven Fleet Capital Management LP boosted its holdings in Tango Therapeutics by 302.2% during the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after acquiring an additional 2,425,484 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $62,849,000. 78.99% of the stock is owned by institutional investors.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, insider Jessica Newcomb sold 8,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the completion of the sale, the insider owned 59,121 shares in the company, valued at approximately $1,431,910.62. This trade represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total value of $660,690.00. Following the sale, the insider directly owned 115,743 shares in the company, valued at $2,832,231.21. The trade was a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 47,231 shares of company stock valued at $1,129,029. Insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $22.74 on Tuesday. The company’s fifty day moving average is $23.32 and its two-hundred day moving average is $22.53. Tango Therapeutics, Inc. has a 52-week low of $7.49 and a 52-week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). Research analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research lowered Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Stifel Nicolaus set a $55.00 target price on Tango Therapeutics in a report on Friday, October 23rd. JPMorgan Chase & Co. assumed coverage on Tango Therapeutics in a report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 target price on the stock. William Blair started coverage on Tango Therapeutics in a research report on Friday, October 16th. They issued an “outperform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $68.00 price target on shares of Tango Therapeutics in a report on Thursday, October 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.62.

Tango Therapeutics Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells.

Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.

Founded in 2017, Tango was established to apply advances in cancer genetics and functional genomics to drug discovery.