Verition Fund Management LLC Buys New Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Verition Fund Management LLC bought a new position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,020 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds also recently bought and sold shares of TNGX. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics during the 2nd quarter worth about $54,000. Quest Partners LLC lifted its holdings in shares of Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after buying an additional 10,182 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Tango Therapeutics during the second quarter worth approximately $90,000. Quarry LP bought a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $99,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after acquiring an additional 1,426 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Trading Up 7.4 %

NASDAQ TNGX opened at $3.06 on Friday. Tango Therapeutics, Inc. has a 1-year low of $2.70 and a 1-year high of $13.01. The company has a market capitalization of $328.70 million, a price-to-earnings ratio of -2.59 and a beta of 0.74. The stock’s 50 day moving average is $4.79 and its two-hundred day moving average is $7.60.

Insider Buying and Selling

In other news, Director Mace Rothenberg bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $3.62 per share, for a total transaction of $36,200.00. Following the completion of the purchase, the director now owns 21,250 shares of the company’s stock, valued at approximately $76,925. The trade was a 88.89 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the transaction, the insider now directly owns 7,573,642 shares in the company, valued at $53,394,176.10. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,338,000 shares of company stock worth $18,426,160 in the last 90 days. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.