Wellington Management Group LLP Sells 6,570 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Wellington Management Group LLP lessened its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,207 shares of the company’s stock after selling 6,570 shares during the period. Wellington Management Group LLP owned 0.13% of Tango Therapeutics worth $1,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics during the 2nd quarter worth $54,000. Quest Partners LLC lifted its position in Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after purchasing an additional 10,182 shares during the period. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics during the second quarter worth about $90,000. Quarry LP bought a new position in Tango Therapeutics in the 2nd quarter valued at about $99,000. Finally, SG Americas Securities LLC acquired a new position in shares of Tango Therapeutics in the 3rd quarter valued at approximately $151,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Stock Up 5.4 %

Shares of TNGX stock opened at $2.94 on Friday. Tango Therapeutics, Inc. has a twelve month low of $2.70 and a twelve month high of $13.01. The stock’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $7.49. The firm has a market capitalization of $315.81 million, a P/E ratio of -2.49 and a beta of 0.74.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. B. Riley reduced their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics presently has an average rating of “Buy” and an average price target of $13.14.

Insider Activity

In other news, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction on Friday, October 25th. The shares were sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the transaction, the insider now owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. The trade was a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mace Rothenberg acquired 10,000 shares of Tango Therapeutics stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $3.78 per share, for a total transaction of $37,800.00. Following the purchase, the director now owns 31,250 shares of the company’s stock, valued at $118,125. The trade was a 47.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 4,338,000 shares of company stock valued at $18,426,160. 6.30% of the stock is currently owned by corporate insiders.

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.