Congress Asset Management Co. Sells 2,100 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Congress Asset Management Co. trimmed its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,070 shares of the company’s stock after selling 2,100 shares during the quarter. Congress Asset Management Co. owned about 0.20% of Tango Therapeutics worth $1,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Tango Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $159,000 after purchasing an additional 8,055 shares during the period. SG Americas Securities LLC purchased a new position in shares of Tango Therapeutics during the 3rd quarter valued at $151,000. Point72 DIFC Ltd bought a new position in Tango Therapeutics in the 2nd quarter worth $54,000. Point72 Asset Management L.P. purchased a new stake in Tango Therapeutics in the 2nd quarter worth $3,836,000. Finally, Quarry LP bought a new stake in Tango Therapeutics during the second quarter valued at about $99,000. Institutional investors own 78.99% of the company’s stock.

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the transaction, the insider now owns 17,176,475 shares in the company, valued at approximately $198,388,286.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the sale, the insider now owns 17,176,475 shares in the company, valued at approximately $198,388,286.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the transaction, the insider now directly owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,885,400 shares of company stock worth $15,485,582 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $5.15 on Friday. The stock has a market capitalization of $551.77 million, a PE ratio of -4.52 and a beta of 0.81. The company’s fifty day moving average is $8.17 and its 200 day moving average is $8.40. Tango Therapeutics, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The firm had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. As a group, research analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Monday, October 28th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Wedbush raised their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.14.

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.