Charles Schwab Investment Management Inc. Buys 76,540 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 18.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,237 shares of the company’s stock after acquiring an additional 76,540 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Tango Therapeutics were worth $3,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Tango Therapeutics in the 2nd quarter valued at $3,836,000. Dimensional Fund Advisors LP boosted its holdings in shares of Tango Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after purchasing an additional 100,257 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tango Therapeutics by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,623 shares of the company’s stock valued at $1,215,000 after purchasing an additional 15,373 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Tango Therapeutics by 82.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock valued at $536,000 after purchasing an additional 28,155 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Tango Therapeutics in the 3rd quarter valued at $349,000. Institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNGX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Guggenheim cut their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, B. Riley cut their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $13.14.

Insider Transactions at Tango Therapeutics

In other news, Director Mace Rothenberg bought 10,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $3.78 per share, with a total value of $37,800.00. Following the completion of the transaction, the director now directly owns 31,250 shares of the company’s stock, valued at $118,125. This represents a 47.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the 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 transaction, the insider now owns 3,610,642 shares of the company’s stock, 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. Insiders have sold 4,338,000 shares of company stock worth $18,426,160 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $3.06 on Friday. The company has a market capitalization of $328.70 million, a price-to-earnings ratio of -2.59 and a beta of 0.74. Tango Therapeutics, Inc. has a 52-week low of $2.70 and a 52-week high of $13.01. The company has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $7.60.

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.