Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Director Sells 30,519 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tango Therapeutics Stock Down 1.8%

Shares of NASDAQ:TNGX traded down $0.23 during trading on Wednesday, reaching $12.32. The stock had a trading volume of 2,214,304 shares, compared to its average volume of 3,307,130. The stock has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $8.52. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $13.46. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -13.25 and a beta of 1.75.

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

Analyst Ratings Changes

TNGX has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. Guggenheim lifted their price target on Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Wall Street Zen upgraded Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Finally, B. Riley boosted their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.60.

Institutional Trading of Tango Therapeutics

Institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after acquiring an additional 3,167 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Tango Therapeutics by 139.7% during the 1st 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 in the last quarter. Legal & General Group Plc increased its position in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Tango Therapeutics by 78.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.