Tango Therapeutics, Inc. $TNGX Position Increased by UBS Group AG

UBS Group AG increased its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 517.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,458 shares of the company’s stock after acquiring an additional 829,980 shares during the period. UBS Group AG owned about 0.74% of Tango Therapeutics worth $8,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Tango Therapeutics by 12.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock valued at $194,000 after buying an additional 2,444 shares in the last quarter. Arizona State Retirement System bought a new position in Tango Therapeutics during the fourth quarter valued at about $109,000. Mass General Brigham Inc bought a new position in Tango Therapeutics during the fourth quarter valued at about $3,138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $21.23, for a total value of $573,210.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at $2,457,223.89. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 179,056 shares of company stock valued at $3,346,181. Company insiders own 6.50% of the company’s stock.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $20.56 on Monday. Tango Therapeutics, Inc. has a 52 week low of $1.40 and a 52 week high of $28.41. The firm has a market capitalization of $2.97 billion, a PE ratio of -24.77 and a beta of 1.22. The business’s 50-day simple moving average is $21.58 and its 200-day simple moving average is $14.29.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. Research analysts forecast that Tango Therapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wedbush raised their target price on Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday. Guggenheim raised their target price on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a report on Friday, March 27th. Mizuho raised their target price on Tango Therapeutics from $20.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. Finally, UBS Group set a $55.00 target price on Tango Therapeutics in a report on Thursday. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.27.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.