Connor Clark & Lunn Investment Management Ltd. Invests $19.88 Million in Tango Therapeutics, Inc. $TNGX

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 636,070 shares of the company’s stock, valued at approximately $19,884,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Farallon Capital Management LLC raised its holdings in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after buying an additional 2,304,411 shares during the period. BlackRock Inc. purchased a new position in shares of Tango Therapeutics in the second quarter worth approximately $388,826,000. Adage Capital Partners GP L.L.C. increased its position 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 in the last quarter. Siren L.L.C. raised its holdings in shares of Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock valued at $72,345,000 after acquiring an additional 2,282,186 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after acquiring an additional 1,698,974 shares during the period. 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 transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TNGX shares. HC Wainwright raised their price objective on shares of Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings upgraded shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective on the stock. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $27.00 to $60.00 in a research note on Thursday, June 25th. Finally, Wedbush increased their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.46.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $24.77 on Wednesday. Tango Therapeutics, Inc. has a one year low of $6.25 and a one year high of $34.39. The business’s 50-day moving average price is $28.03 and its two-hundred day moving average price is $22.95. The company has a market capitalization of $4.18 billion, a P/E ratio of -29.14 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). On average, equities analysts anticipate 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.