Wellington Management Group LLP Has $1.69 Million Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Wellington Management Group LLP lifted its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 110.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 170,228 shares of the company’s stock after buying an additional 89,481 shares during the quarter. Wellington Management Group LLP’s holdings in Tango Therapeutics were worth $1,685,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Boxer Capital LLC boosted its holdings in shares of Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after buying an additional 1,075,000 shares during the period. Vanguard Group Inc. lifted its position in Tango Therapeutics by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock valued at $33,103,000 after acquiring an additional 197,624 shares in the last quarter. RTW Investments LP acquired a new position in Tango Therapeutics in the 4th quarter worth $19,471,000. Adage Capital Partners GP L.L.C. increased its holdings in Tango Therapeutics by 47.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock worth $19,760,000 after purchasing an additional 564,971 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Tango Therapeutics by 3,247.3% in the 3rd quarter. Invesco Ltd. now owns 774,738 shares of the company’s stock valued at $8,724,000 after purchasing an additional 751,593 shares during the period. 78.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mva Investors, Llc sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $7.43, for a total value of $557,250.00. Following the completion of the sale, the insider now directly owns 618,524 shares of the company’s stock, valued at $4,595,633.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 198,000 shares of company stock valued at $1,469,970 over the last 90 days. 6.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TNGX. Wedbush reduced their price objective on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. HC Wainwright decreased their price target on shares of Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 28th. Cantor Fitzgerald assumed coverage on shares of Tango Therapeutics in a research report on Thursday, April 4th. They issued an “overweight” rating on the stock. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Finally, Barclays lowered their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.17.

Tango Therapeutics Trading Up 4.9 %

NASDAQ:TNGX opened at $9.00 on Tuesday. The stock has a market capitalization of $961.65 million, a PE ratio of -7.96 and a beta of 0.83. Tango Therapeutics, Inc. has a 1-year low of $2.88 and a 1-year high of $13.03. The firm has a fifty day simple moving average of $7.85 and a 200 day simple moving average of $9.29.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The firm had revenue of $6.47 million during the quarter, compared to the consensus estimate of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. On average, equities analysts predict that Tango Therapeutics, Inc. will post -1.31 earnings per share for the current fiscal year.

Tango Therapeutics 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.