Congress Asset Management Co. Purchases 18,919 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Congress Asset Management Co. boosted its position in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 9.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 227,989 shares of the company’s stock after acquiring an additional 18,919 shares during the period. Congress Asset Management Co.’s holdings in Tango Therapeutics were worth $704,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after acquiring an additional 489,949 shares during the last quarter. Geode Capital Management LLC lifted its position in Tango Therapeutics by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after purchasing an additional 142,710 shares during the last quarter. Barclays PLC grew its stake in shares of Tango Therapeutics by 78.3% in the 3rd quarter. Barclays PLC now owns 126,281 shares of the company’s stock worth $972,000 after buying an additional 55,470 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Tango Therapeutics in the 3rd quarter worth about $247,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tango Therapeutics by 18.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock valued at $3,752,000 after buying an additional 76,540 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TNGX shares. Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Friday, November 8th. B. Riley lowered their price target on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $12.33.

Insider Activity at Tango Therapeutics

In other news, CEO Barbara Weber sold 9,778 shares of the firm’s 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 of the company’s stock, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 24,268 shares of company stock worth $72,561 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Tango Therapeutics Trading Down 1.6 %

Shares of TNGX opened at $2.43 on Wednesday. The firm has a fifty day moving average price of $2.98 and a 200-day moving average price of $5.70. The firm has a market capitalization of $261.03 million, a P/E ratio of -2.06 and a beta of 0.80. Tango Therapeutics, Inc. has a 12-month low of $2.41 and a 12-month high of $12.10.

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.