Barclays PLC Increases Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Barclays PLC increased its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 78.3% in the third quarter, Holdings Channel reports. The firm owned 126,281 shares of the company’s stock after acquiring an additional 55,470 shares during the period. Barclays PLC’s holdings in Tango Therapeutics were worth $972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. XTX Topco Ltd increased its position in Tango Therapeutics by 340.1% during the 3rd quarter. XTX Topco Ltd now owns 44,191 shares of the company’s stock worth $340,000 after purchasing an additional 34,150 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in Tango Therapeutics during the 3rd quarter worth approximately $385,000. State Street Corp increased its position in Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after purchasing an additional 489,949 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Tango Therapeutics during the 3rd quarter worth approximately $247,000. Finally, Walleye Capital LLC acquired a new stake in Tango Therapeutics in the third quarter valued at approximately $1,098,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Tango Therapeutics

In other news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mace Rothenberg bought 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $3.78 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director now owns 31,250 shares of the company’s stock, valued at $118,125. This trade represents a 47.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 4,338,000 shares of company stock worth $18,426,160. 6.30% of the stock is owned by insiders.

Tango Therapeutics Stock Performance

TNGX stock opened at $3.10 on Tuesday. The stock has a market capitalization of $333.00 million, a price-to-earnings ratio of -2.63 and a beta of 0.74. Tango Therapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $13.01. The stock’s fifty day moving average is $3.93 and its two-hundred day moving average is $7.29.

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.