50,000 Shares in Tango Therapeutics, Inc. (NASDAQ:TNGX) Acquired by Sphera Funds Management LTD.

Sphera Funds Management LTD. acquired a new position in Tango Therapeutics, Inc. (NASDAQ:TNGX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,000 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Tango Therapeutics by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after purchasing an additional 2,218 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Tango Therapeutics in the second quarter worth approximately $54,000. China Universal Asset Management Co. Ltd. increased its holdings in 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 in the last quarter. Finally, Quest Partners LLC increased its holdings in Tango Therapeutics by 1,448.4% in the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after purchasing an additional 10,182 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Stock Down 4.6 %

Shares of NASDAQ:TNGX opened at $3.52 on Thursday. Tango Therapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $13.01. The business’s 50 day moving average is $5.36 and its 200 day moving average is $7.80.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, Director Mace Rothenberg acquired 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price 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. This trade represents a 88.89 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,405,400 shares of company stock valued at $19,135,882 over the last 90 days. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TNGX. B. Riley lowered their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Guggenheim lowered their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Wedbush lifted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.14.

About Tango Therapeutics

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.