Profund Advisors LLC Decreases Stock Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Profund Advisors LLC cut its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 59.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,893 shares of the company’s stock after selling 20,404 shares during the period. Profund Advisors LLC’s holdings in Tango Therapeutics were worth $119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boxer Capital LLC boosted its position in shares of Tango Therapeutics by 15.1% in the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after buying an additional 1,075,000 shares in the last quarter. Mass General Brigham Inc acquired a new position in Tango Therapeutics in the 1st quarter valued at about $2,812,000. Fisher Asset Management LLC acquired a new position in Tango Therapeutics in the 4th quarter valued at about $997,000. RTW Investments LP acquired a new position in Tango Therapeutics in the 4th quarter valued at about $19,471,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Tango Therapeutics by 32.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TNGX. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Wedbush boosted their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.14.

Insider Buying and Selling

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now owns 16,859,075 shares in the company, valued at approximately $177,526,059.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,680,311 shares of company stock valued at $17,042,393. 6.20% of the stock is currently owned by corporate insiders.

Tango Therapeutics Stock Performance

TNGX opened at $7.47 on Monday. The firm has a 50 day moving average price of $9.70 and a 200 day moving average price of $8.63. The company has a market cap of $798.14 million, a PE ratio of -6.61 and a beta of 0.84. Tango Therapeutics, Inc. has a 1 year low of $5.15 and a 1 year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $19.88 million during the quarter, compared to the consensus estimate of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. On average, sell-side analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

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.