Barclays PLC Purchases 55,470 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Barclays PLC grew its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 78.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 126,281 shares of the company’s stock after buying an additional 55,470 shares during the period. Barclays PLC’s holdings in Tango Therapeutics were worth $972,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Tango Therapeutics by 26.8% during the third quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after acquiring an additional 489,949 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth approximately $3,836,000. Geode Capital Management LLC grew its stake in shares of Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after buying an additional 142,710 shares during the last quarter. Quarry LP bought a new position in Tango Therapeutics during the 2nd quarter valued at approximately $99,000. Finally, Point72 DIFC Ltd purchased a new position in Tango Therapeutics during the second quarter valued at $54,000. Institutional investors own 78.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the completion of the sale, the insider now directly owns 7,573,642 shares in the company, valued at approximately $53,394,176.10. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mace Rothenberg purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $3.62 per share, for a total transaction of $36,200.00. Following the completion of the transaction, the director now directly owns 21,250 shares of the company’s stock, valued at approximately $76,925. This trade represents a 88.89 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 4,338,000 shares of company stock valued at $18,426,160 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tango Therapeutics Trading Down 8.4 %

NASDAQ:TNGX opened at $2.62 on Wednesday. The company has a 50 day simple moving average of $3.33 and a two-hundred day simple moving average of $6.80. The company has a market cap of $281.44 million, a PE ratio of -2.22 and a beta of 0.81. Tango Therapeutics, Inc. has a 12 month low of $2.59 and a 12 month high of $13.01.

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.