Tango Therapeutics (NASDAQ:TNGX) Insider Sells $798,930.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Adam Crystal also recently made the following trade(s):

• On Monday, June 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $22.87, for a total value of $617,490.00.
• On Friday, May 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $21.23, for a total value of $573,210.00.
• On Wednesday, April 15th, Adam Crystal sold 38,460 shares of Tango Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $961,500.00.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock traded up $0.73 during trading hours on Thursday, hitting $29.46. The company’s stock had a trading volume of 2,307,526 shares, compared to its average volume of 6,655,349. The company has a market capitalization of $4.26 billion, a PE ratio of -35.49 and a beta of 1.12. The stock has a 50 day moving average of $25.50 and a 200 day moving average of $18.41. Tango Therapeutics, Inc. has a 12 month low of $5.34 and a 12 month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). Equities analysts expect that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC increased its position in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock valued at $115,724,000 after purchasing an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after acquiring an additional 8,096,924 shares in the last quarter. Siren L.L.C. boosted its stake in Tango Therapeutics by 38.8% during the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock valued at $72,345,000 after purchasing an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Tango Therapeutics by 84.8% during the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock valued at $55,097,000 after purchasing an additional 2,853,362 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TNGX shares. Canaccord Genuity Group upped their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday. Wedbush lifted their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Guggenheim upped their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Finally, UBS Group set a $55.00 price objective on Tango Therapeutics in a research note on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

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.