Point72 DIFC Ltd Takes $54,000 Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Point72 DIFC Ltd purchased a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,281 shares of the company’s stock, valued at approximately $54,000.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wedbush increased their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group assumed coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tango Therapeutics has a consensus rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Stock Down 3.3 %

Shares of NASDAQ TNGX opened at $7.04 on Thursday. The firm has a market cap of $752.20 million, a P/E ratio of -6.23 and a beta of 0.84. Tango Therapeutics, Inc. has a twelve month low of $5.15 and a twelve month high of $13.03. The company has a 50 day moving average of $9.55 and a 200 day moving average of $8.59.

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

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 262,740 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $9.78, for a total transaction of $2,569,597.20. Following the sale, the insider now owns 18,197,074 shares of the company’s stock, valued at approximately $177,967,383.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,680,311 shares of company stock valued at $17,042,393. 6.20% of the stock is owned by insiders.

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.