Quest Partners LLC Grows Stake in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Quest Partners LLC boosted its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 1,448.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,885 shares of the company’s stock after buying an additional 10,182 shares during the period. Quest Partners LLC’s holdings in Tango Therapeutics were worth $84,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 valued at $24,462,000 after buying an additional 101,673 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Tango Therapeutics during the second quarter valued at approximately $3,836,000. Dimensional Fund Advisors LP boosted its stake in Tango Therapeutics by 42.5% during 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 during the last quarter. Bank of New York Mellon Corp boosted its stake in Tango Therapeutics by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 141,623 shares of the company’s stock valued at $1,215,000 after buying an additional 15,373 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its stake in Tango Therapeutics by 82.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock valued at $536,000 after buying an additional 28,155 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Insider Activity

In other Tango Therapeutics news, Director Mace Rothenberg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $3.62 per share, with a total value of $36,200.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total value of $9,671,200.00. Following the sale, the insider now directly owns 3,610,642 shares of the company’s stock, valued at $11,337,415.88. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,480,400 shares of company stock valued at $20,002,882 in the last ninety days. Insiders own 6.30% of the company’s stock.

Tango Therapeutics Price Performance

NASDAQ:TNGX opened at $3.94 on Friday. The firm has a market capitalization of $423.23 million, a price-to-earnings ratio of -3.34 and a beta of 0.88. Tango Therapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $13.01. The business has a 50 day simple moving average of $5.59 and a 200-day simple moving average of $7.88.

Analyst Ratings Changes

TNGX has been the subject of a number of research reports. B. Riley dropped their price target on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wedbush increased their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday, November 8th. Finally, Guggenheim lowered their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.14.

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.