Tango Therapeutics (NASDAQ:TNGX) Insider Adam Crystal Sells 18,452 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 18,452 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $226,221.52. Following the completion of the transaction, the insider directly owned 187,218 shares of the company’s stock, valued at approximately $2,295,292.68. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tango Therapeutics Price Performance

NASDAQ:TNGX traded down $0.23 on Wednesday, hitting $12.32. 2,214,304 shares of the company’s stock were exchanged, compared to its average volume of 3,307,130. The firm has a 50-day moving average price of $10.34 and a 200-day moving average price of $8.52. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $13.46. The company 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 announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share 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 company had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TNGX. Invesco Ltd. lifted its stake in shares of Tango Therapeutics by 138.8% during the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock worth $97,000 after buying an additional 40,983 shares during the last quarter. AQR Capital Management LLC acquired a new position in Tango Therapeutics in the 1st quarter valued at about $195,000. Dynamic Technology Lab Private Ltd raised its holdings in Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after acquiring an additional 15,037 shares during the period. Woodline Partners LP lifted its position in Tango Therapeutics by 28.3% during the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after acquiring an additional 111,791 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Tango Therapeutics by 270.6% during the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock worth $483,000 after acquiring an additional 257,668 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Tango Therapeutics

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.