Blue Owl Capital Holdings LP Acquires New Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

Blue Owl Capital Holdings LP acquired a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,732,152 shares of the company's stock, valued at approximately $5,352,000. Tango Therapeutics accounts for approximately 1.3% of Blue Owl Capital Holdings LP's portfolio, making the stock its 18th largest holding. Blue Owl Capital Holdings LP owned 1.61% of Tango Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in shares of Tango Therapeutics by 35.8% in the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after buying an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Tango Therapeutics by 29.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after purchasing an additional 4,813 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Tango Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock valued at $69,000 after buying an additional 7,599 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Tango Therapeutics in the 4th quarter valued at about $33,000. Finally, Swiss National Bank increased its stake in Tango Therapeutics by 13.1% during the fourth quarter. Swiss National Bank now owns 94,900 shares of the company's stock worth $293,000 after acquiring an additional 11,000 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Price Performance

Shares of TNGX stock remained flat at $1.46 on Friday. The company had a trading volume of 519,792 shares, compared to its average volume of 1,079,439. The business has a 50 day moving average of $1.69 and a two-hundred day moving average of $3.07. The company has a market cap of $157.84 million, a PE ratio of -1.24 and a beta of 1.03. Tango Therapeutics, Inc. has a 52-week low of $1.11 and a 52-week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.03). The company had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. Equities analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Monday, April 14th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $12.33.

Insider Transactions at Tango Therapeutics

In other news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the transaction, the chief executive officer now directly owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 24,268 shares of company stock valued at $72,561. 6.30% of the stock is currently owned by corporate insiders.

Tango Therapeutics Company 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.