Candriam S.C.A. Makes New Investment in Tango Therapeutics, Inc. $TNGX

Candriam S.C.A. bought a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 708,812 shares of the company’s stock, valued at approximately $3,629,000. Candriam S.C.A. owned about 0.65% of Tango Therapeutics at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CWM LLC lifted its holdings in Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after acquiring an additional 3,167 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at $57,000. Savant Capital LLC acquired a new stake in shares of Tango Therapeutics during the 2nd quarter worth about $61,000. Finally, Russell Investments Group Ltd. raised its holdings in Tango Therapeutics by 2,376.2% in the 1st quarter. Russell Investments Group Ltd. now owns 51,183 shares of the company’s stock valued at $73,000 after buying an additional 49,116 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $7.01, for a total transaction of $7,711,000.00. Following the completion of the transaction, the insider directly owned 15,759,075 shares of the company’s stock, valued at approximately $110,471,115.75. The trade was a 6.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 3,472,501 shares of company stock valued at $26,350,320. Company insiders own 7.50% of the company’s stock.

Tango Therapeutics Stock Up 5.8%

NASDAQ:TNGX opened at $8.17 on Friday. The company has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $5.90. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -8.78 and a beta of 1.66. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $9.70.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The business had revenue of $53.81 million for the quarter, compared to analysts’ expectations of $41.35 million. On average, analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Guggenheim lifted their target price on shares of Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, October 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, August 18th. They set an “overweight” rating and a $11.00 price target for the company. Finally, Wall Street Zen upgraded Tango Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

About Tango Therapeutics

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.