Zurcher Kantonalbank Zurich Cantonalbank Acquires 11,829 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 570.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,902 shares of the company’s stock after purchasing an additional 11,829 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tango Therapeutics were worth $138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Tango Therapeutics by 421.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Tango Therapeutics during the third quarter valued at $144,000. L2 Asset Management LLC purchased a new position in shares of Tango Therapeutics during the third quarter valued at $185,000. Exchange Traded Concepts LLC increased its stake in shares of Tango Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,474 shares of the company’s stock valued at $163,000 after buying an additional 4,177 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Tango Therapeutics by 57.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,421 shares of the company’s stock valued at $219,000 after buying an additional 7,077 shares during the period. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Price Performance

TNGX opened at $7.91 on Thursday. The firm has a market capitalization of $844.31 million, a PE ratio of -7.19 and a beta of 0.84. The business’s 50-day moving average is $8.36 and its two-hundred day moving average is $9.34. Tango Therapeutics, Inc. has a 1 year low of $2.47 and a 1 year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. As a group, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mva Investors, Llc sold 60,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $7.61, for a total transaction of $456,600.00. Following the sale, the insider now directly owns 483,524 shares of the company’s stock, valued at $3,679,617.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Tango Therapeutics news, insider Mva Investors, Llc sold 60,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $7.61, for a total transaction of $456,600.00. Following the sale, the insider now owns 483,524 shares in the company, valued at approximately $3,679,617.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,500 shares of company stock valued at $2,963,850. Insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

TNGX has been the topic of several research reports. Wedbush restated an “outperform” rating and set a $18.00 price target on shares of Tango Therapeutics in a research note on Monday, March 18th. HC Wainwright lifted their target price on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler assumed coverage on Tango Therapeutics in a research note on Monday, February 12th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.25.

Tango Therapeutics Company Profile

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.