Insider Selling: Tango Therapeutics (NASDAQ:TNGX) CFO Sells 10,317 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the sale, the chief financial officer owned 184,297 shares in the company, valued at $2,259,481.22. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Tango Therapeutics Stock Performance

Shares of TNGX traded down $0.23 during trading hours on Wednesday, reaching $12.32. 2,214,304 shares of the company traded hands, compared to its average volume of 3,307,130. The stock’s fifty day moving average is $10.34 and its 200 day moving average is $8.52. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $13.46. The stock has a market cap of $1.66 billion, a P/E ratio of -13.25 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The firm had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

TNGX has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Piper Sandler increased their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Wolfe Research assumed coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Institutional Investors Weigh In On Tango Therapeutics

A number of large investors have recently bought and sold shares of the business. CWM LLC increased its holdings in Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after purchasing an additional 3,167 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after buying an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after buying an additional 3,452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tango Therapeutics by 148,800.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.