Tango Therapeutics, Inc. (NASDAQ:TNGX) Shares Purchased by State Street Corp

State Street Corp boosted its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 26.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,318,208 shares of the company's stock after acquiring an additional 489,949 shares during the quarter. State Street Corp owned about 2.16% of Tango Therapeutics worth $17,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Tango Therapeutics by 12.2% in 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 acquiring an additional 15,373 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Tango Therapeutics during the second quarter worth $90,000. Dimensional Fund Advisors LP raised its position in shares of Tango Therapeutics by 42.5% in 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. Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $54,000. Finally, The Manufacturers Life Insurance Company boosted its position in Tango Therapeutics by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company's stock worth $253,000 after acquiring an additional 2,218 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.

Insider Activity

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 633,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the completion of the transaction, the insider now owns 6,690,642 shares in the company, valued at $45,964,710.54. The trade was a 8.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mace Rothenberg acquired 10,000 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $3.62 per share, with a total value of $36,200.00. Following the completion of the transaction, the director now owns 21,250 shares in the company, valued at approximately $76,925. The trade was a 88.89 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 4,338,000 shares of company stock valued at $18,426,160. 6.30% of the stock is currently owned by company insiders.

Tango Therapeutics Trading Down 5.9 %

TNGX traded down $0.19 during mid-day trading on Tuesday, hitting $3.04. 377,740 shares of the stock were exchanged, compared to its average volume of 1,047,829. The firm's fifty day moving average is $4.33 and its two-hundred day moving average is $7.44. Tango Therapeutics, Inc. has a 1-year low of $2.70 and a 1-year high of $13.01. The company has a market cap of $326.55 million, a PE ratio of -2.58 and a beta of 0.74.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TNGX. Cantor Fitzgerald restated an "overweight" rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. Guggenheim decreased their price objective on Tango Therapeutics from $18.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, B. Riley cut their target price 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics has a consensus rating of "Buy" and an average price target of $13.14.

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.