California State Teachers Retirement System Sells 2,399 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

California State Teachers Retirement System cut its holdings in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 5.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 41,149 shares of the company’s stock after selling 2,399 shares during the quarter. California State Teachers Retirement System’s holdings in Tango Therapeutics were worth $327,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Boxer Capital LLC increased its position in shares of Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after acquiring an additional 1,075,000 shares in the last quarter. Mass General Brigham Inc acquired a new stake in Tango Therapeutics in the 1st quarter valued at approximately $2,812,000. Fisher Asset Management LLC bought a new stake in Tango Therapeutics in the 4th quarter valued at approximately $997,000. Victory Capital Management Inc. bought a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $719,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Tango Therapeutics in the fourth quarter worth $136,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $9.96 on Monday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -8.81 and a beta of 0.83. The company has a fifty day moving average of $9.16 and a 200-day moving average of $8.98. Tango Therapeutics, Inc. has a 52-week low of $5.15 and a 52-week high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The company had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. On average, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price for the company. Finally, Barclays lowered their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tango Therapeutics has a consensus rating of “Buy” and a consensus price target of $15.14.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total value of $1,964,000.00. Following the completion of the transaction, the insider now directly owns 17,872,074 shares in the company, valued at approximately $175,503,766.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total transaction of $1,964,000.00. Following the completion of the sale, the insider now directly owns 17,872,074 shares in the company, valued at approximately $175,503,766.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.87, for a total transaction of $982,183.97. Following the completion of the transaction, the insider now owns 203,793 shares of the company’s stock, valued at $1,807,643.91. The disclosure for this sale can be found here. Insiders sold a total of 1,255,642 shares of company stock worth $11,998,605 in the last quarter. 6.20% of the stock is owned by company insiders.

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.