Tango Therapeutics, Inc. $TNGX Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 42.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 737,955 shares of the company’s stock after acquiring an additional 220,529 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Tango Therapeutics were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TNGX. Dimensional Fund Advisors LP boosted its stake in Tango Therapeutics by 83.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,776 shares of the company’s stock valued at $2,048,000 after acquiring an additional 302,087 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Tango Therapeutics by 29.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company’s stock valued at $65,000 after acquiring an additional 4,813 shares in the last quarter. Northern Trust Corp boosted its stake in Tango Therapeutics by 7.1% in the 4th quarter. Northern Trust Corp now owns 513,079 shares of the company’s stock worth $1,585,000 after purchasing an additional 33,829 shares in the last quarter. Jane Street Group LLC boosted its stake in Tango Therapeutics by 87.6% in the 4th quarter. Jane Street Group LLC now owns 95,229 shares of the company’s stock worth $294,000 after purchasing an additional 44,465 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Tango Therapeutics in the 4th quarter worth approximately $35,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Trading Up 7.5%

NASDAQ:TNGX opened at $6.84 on Friday. The firm has a fifty day simple moving average of $6.58 and a 200-day simple moving average of $3.84. Tango Therapeutics, Inc. has a 12 month low of $1.03 and a 12 month high of $10.85. The company has a market capitalization of $761.02 million, a P/E ratio of -5.14 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. The firm had revenue of $3.18 million during the quarter, compared to analysts’ expectations of $6.41 million. Equities analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were 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 owned 15,759,075 shares of the company’s stock, valued at $110,471,115.75. This trade represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,131,559 shares of company stock worth $14,935,371 over the last three months. Company insiders own 7.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TNGX. Guggenheim lifted their price objective on shares of Tango Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Piper Sandler began coverage on shares of Tango Therapeutics in a research note on Monday, August 18th. They set an “overweight” rating and a $11.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.50.

Tango Therapeutics 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.