Simplicity Wealth LLC Has $208,000 Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Simplicity Wealth LLC cut its stake in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 37.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,961 shares of the company’s stock after selling 16,080 shares during the period. Simplicity Wealth LLC’s holdings in Tango Therapeutics were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TNGX. Vanguard Group Inc. grew its stake in Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after buying an additional 101,673 shares in the last quarter. Artal Group S.A. acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at $17,427,000. Point72 Asset Management L.P. bought a new position in shares of Tango Therapeutics in the 2nd quarter valued at $3,836,000. Mass General Brigham Inc acquired a new position in shares of Tango Therapeutics during the 1st quarter worth $2,812,000. Finally, Dimensional Fund Advisors LP boosted its stake in Tango Therapeutics by 42.5% in the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after buying an additional 100,257 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $6.84 on Tuesday. The firm has a market cap of $730.83 million, a P/E ratio of -6.05 and a beta of 0.81. The stock’s 50 day moving average is $9.12 and its 200 day moving average is $8.53. Tango Therapeutics, Inc. has a one year low of $6.32 and a one year high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The company had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Equities analysts anticipate that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Activity

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $9.78, for a total value of $2,569,597.20. Following the completion of the sale, the insider now directly owns 18,197,074 shares in the company, valued at approximately $177,967,383.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,680,311 shares of company stock valued at $17,042,393 in the last ninety days. 6.20% of the stock is owned by company 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.