State Street Corp Acquires 489,949 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

State Street Corp raised its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 26.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,318,208 shares of the company’s stock after purchasing an additional 489,949 shares during the quarter. State Street Corp’s holdings in Tango Therapeutics were worth $17,850,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TNGX. Point72 DIFC Ltd purchased a new position in Tango Therapeutics during the 2nd quarter valued at about $54,000. Quest Partners LLC raised its stake in Tango Therapeutics by 1,448.4% in the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after buying an additional 10,182 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics in the 2nd quarter worth approximately $90,000. Quarry LP acquired a new stake in shares of Tango Therapeutics during the second quarter worth $99,000. Finally, SG Americas Securities LLC acquired a new stake in Tango Therapeutics during the 3rd quarter worth about $151,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. Guggenheim reduced their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, B. Riley lowered their target price on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.14.

Insider Activity

In other news, Director Mace Rothenberg purchased 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $3.78 per share, for a total transaction of $37,800.00. Following the completion of the purchase, the director now directly owns 31,250 shares of the company’s stock, valued at $118,125. The trade was a 47.06 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction 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 approximately $53,394,176.10. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,338,000 shares of company stock worth $18,426,160 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Tango Therapeutics Price Performance

TNGX opened at $3.23 on Tuesday. Tango Therapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $13.01. The stock has a market capitalization of $346.96 million, a P/E ratio of -2.74 and a beta of 0.74. The business has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $7.47.

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.