Virtus Investment Advisers LLC Sells 38,979 Shares of Tango Therapeutics, Inc. $TNGX

Virtus Investment Advisers LLC reduced its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 67.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,620 shares of the company’s stock after selling 38,979 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Tango Therapeutics were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after buying an additional 1,640 shares during the period. CWM LLC grew its holdings in Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after purchasing an additional 3,167 shares during the period. Ameritas Investment Partners Inc. increased its stake in Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Tango Therapeutics by 30.1% during the second quarter. ProShare Advisors LLC now owns 19,775 shares of the company’s stock valued at $101,000 after purchasing an additional 4,570 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Tango Therapeutics by 13.7% during the second quarter. Intech Investment Management LLC now owns 45,675 shares of the company’s stock valued at $234,000 after purchasing an additional 5,518 shares during the period. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Trading Up 1.4%

Shares of Tango Therapeutics stock opened at $10.92 on Monday. The company has a market capitalization of $1.47 billion, a P/E ratio of -11.74 and a beta of 1.71. The stock has a fifty day simple moving average of $8.35 and a 200 day simple moving average of $6.52. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $11.20.

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

Analyst Upgrades and Downgrades

TNGX has been the subject of a number of research analyst reports. Guggenheim boosted their target price on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Wolfe Research assumed coverage on Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Finally, Piper Sandler began coverage on shares of Tango Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $11.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.50.

Insider Buying and Selling

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of Tango Therapeutics stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the transaction, the insider owned 13,386,574 shares of the company’s stock, valued at $135,873,726.10. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 2,070,307 shares of company stock valued at $16,523,962. Company insiders own 7.50% of the company’s stock.

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.