AQR Capital Management LLC Cuts Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

AQR Capital Management LLC reduced its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 59.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,651 shares of the company’s stock after selling 30,323 shares during the period. AQR Capital Management LLC’s holdings in Tango Therapeutics were worth $177,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $54,000. Paloma Partners Management Co purchased a new stake in shares of Tango Therapeutics in the 1st quarter valued at approximately $80,000. Principal Financial Group Inc. purchased a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $90,000. Price T Rowe Associates Inc. MD increased its position in shares of Tango Therapeutics by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tango Therapeutics by 32.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total value of $1,964,000.00. Following the transaction, the insider now directly owns 17,872,074 shares in the company, valued at approximately $175,503,766.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 1,130,140 shares of company stock worth $11,656,219. 6.20% of the stock is owned by company insiders.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $7.46 on Friday. The firm has a market cap of $797.07 million, a PE ratio of -6.60 and a beta of 0.81. Tango Therapeutics, Inc. has a one year low of $6.33 and a one year high of $13.01. The firm’s fifty day moving average is $8.98 and its two-hundred day moving average is $8.50.

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. The company had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. Research analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wedbush increased their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tango Therapeutics presently has an average rating of “Buy” and an average price target of $15.14.

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.