Franklin Resources Inc. Has $391,000 Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Franklin Resources Inc. increased its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 670.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 126,553 shares of the company’s stock after purchasing an additional 110,126 shares during the period. Franklin Resources Inc.’s holdings in Tango Therapeutics were worth $391,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its holdings in Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company’s stock worth $45,000 after acquiring an additional 3,831 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Tango Therapeutics during the 4th quarter worth about $45,000. Catalina Capital Group LLC bought a new stake in Tango Therapeutics during the 4th quarter valued at approximately $82,000. Los Angeles Capital Management LLC bought a new stake in shares of Tango Therapeutics in the fourth quarter valued at approximately $218,000. Finally, Swiss National Bank increased its holdings in shares of Tango Therapeutics by 13.1% during the 4th quarter. Swiss National Bank now owns 94,900 shares of the company’s stock worth $293,000 after purchasing an additional 11,000 shares during the period. 78.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Monday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $12.33.

Tango Therapeutics Trading Up 0.8 %

NASDAQ TNGX opened at $1.29 on Friday. The company has a 50 day moving average of $1.81 and a 200-day moving average of $3.33. Tango Therapeutics, Inc. has a 1-year low of $1.11 and a 1-year high of $12.02. The firm has a market cap of $139.46 million, a price-to-earnings ratio of -1.09 and a beta of 1.03.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. The business had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. On average, analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the completion of the sale, the chief executive officer now owns 1,631,264 shares in the company, valued at $4,877,479.36. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 24,268 shares of company stock valued at $72,561. Insiders own 6.30% of the company’s stock.

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.