Trv Gp Iv LLC Cuts Holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX)

TRV GP IV LLC decreased its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,859,075 shares of the company's stock after selling 2,342,400 shares during the period. Tango Therapeutics comprises approximately 80.1% of TRV GP IV LLC's portfolio, making the stock its largest position. TRV GP IV LLC owned 15.74% of Tango Therapeutics worth $129,815,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Tango Therapeutics during the third quarter worth about $349,000. China Universal Asset Management Co. Ltd. raised its stake in Tango Therapeutics by 64.2% during 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 acquired a new stake in shares of Tango Therapeutics in the third quarter worth $151,000. Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics in the second quarter worth $54,000. Finally, Point72 Asset Management L.P. acquired a new stake in Tango Therapeutics during the 2nd quarter valued at $3,836,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.09, for a total transaction of $1,513,500.00. Following the transaction, the insider now directly owns 17,201,475 shares of the company's stock, valued at $173,562,882.75. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,830,400 shares of company stock valued at $23,835,132. 6.30% of the stock is currently owned by corporate insiders.

Tango Therapeutics Trading Down 1.8 %

Shares of TNGX traded down $0.07 during trading hours on Friday, reaching $3.85. 3,627,848 shares of the company's stock traded hands, compared to its average volume of 3,107,345. The stock has a market cap of $413.57 million, a PE ratio of -3.26 and a beta of 0.88. Tango Therapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $13.01. The firm's 50 day simple moving average is $6.65 and its 200-day simple moving average is $8.14.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TNGX shares. Guggenheim reduced their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. B. Riley decreased their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a "buy" rating for the company in a report on Monday, November 11th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Wedbush increased their price objective 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. Eight investment analysts have rated the stock with a buy rating, According to 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.