T. Rowe Price Investment Management Inc. Trims Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

T. Rowe Price Investment Management Inc. cut its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 33.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,345,551 shares of the company's stock after selling 1,677,595 shares during the period. T. Rowe Price Investment Management Inc. owned 3.11% of Tango Therapeutics worth $10,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after purchasing an additional 3,831 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Tango Therapeutics by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after acquiring an additional 7,599 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at approximately $33,000. Swiss National Bank boosted its position in shares of Tango Therapeutics by 13.1% during the fourth quarter. Swiss National Bank now owns 94,900 shares of the company's stock valued at $293,000 after purchasing an additional 11,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Tango Therapeutics by 12.4% in the fourth quarter. American Century Companies Inc. now owns 110,448 shares of the company's stock worth $341,000 after purchasing an additional 12,162 shares during the period. Hedge funds and other institutional investors own 78.99% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Tango Therapeutics

In related 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 owns 1,631,264 shares in the company, valued at $4,877,479.36. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 24,268 shares of company stock worth $72,561 over the last quarter. Company insiders own 6.30% of the company's stock.

Tango Therapeutics Stock Performance

TNGX stock opened at $1.46 on Monday. Tango Therapeutics, Inc. has a 12-month low of $1.11 and a 12-month high of $12.02. The stock's 50 day simple moving average is $1.69 and its 200 day simple moving average is $3.05. The stock has a market capitalization of $157.84 million, a PE ratio of -1.24 and a beta of 1.03.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). The business 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%. On average, research analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

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.

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