Tango Therapeutics, Inc. (NASDAQ:TNGX) Stake Raised by XTX Topco Ltd

XTX Topco Ltd raised its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 340.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,191 shares of the company’s stock after acquiring an additional 34,150 shares during the quarter. XTX Topco Ltd’s holdings in Tango Therapeutics were worth $340,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sphera Funds Management LTD. purchased a new stake in Tango Therapeutics in the 3rd quarter worth approximately $385,000. State Street Corp raised its holdings in shares of 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. Verition Fund Management LLC acquired a new stake in Tango Therapeutics during the third quarter valued at $247,000. Walleye Capital LLC purchased a new position in Tango Therapeutics in the third quarter valued at about $1,098,000. Finally, Charles Schwab Investment Management Inc. increased its position in Tango Therapeutics by 18.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock worth $3,752,000 after purchasing an additional 76,540 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $2.95 on Tuesday. Tango Therapeutics, Inc. has a 52-week low of $2.70 and a 52-week high of $13.01. The company has a market cap of $316.88 million, a P/E ratio of -2.50 and a beta of 0.74. The stock’s 50-day moving average is $4.71 and its 200-day moving average is $7.58.

Analyst Ratings Changes

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

Insider Buying and Selling at Tango Therapeutics

In related news, Director Mace Rothenberg bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $3.78 per share, with a total value of $37,800.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the sale, the insider now directly owns 3,610,642 shares of the company’s stock, valued at approximately $11,337,415.88. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,338,000 shares of company stock valued at $18,426,160 in the last 90 days. 6.30% of the stock is currently owned by insiders.

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.