Tango Therapeutics (NASDAQ:TNGX) Insider Sells $226,221.52 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 18,452 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $226,221.52. Following the sale, the insider directly owned 187,218 shares of the company’s stock, valued at approximately $2,295,292.68. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tango Therapeutics Trading Up 4.7%

Tango Therapeutics stock opened at $12.51 on Friday. The stock has a 50 day moving average of $10.40 and a two-hundred day moving average of $8.59. Tango Therapeutics, Inc. has a twelve month low of $1.03 and a twelve month high of $13.46. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -13.45 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, topping 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 business had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. Equities analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. Farallon Capital Management LLC grew its holdings in shares of Tango Therapeutics by 17.5% in the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock worth $90,359,000 after acquiring an additional 1,600,000 shares during the period. Vanguard Group Inc. boosted its position in Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after purchasing an additional 1,698,974 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Tango Therapeutics in the second quarter valued at $30,235,000. Balyasny Asset Management L.P. increased its position in shares of Tango Therapeutics by 6.9% in the third quarter. Balyasny Asset Management L.P. now owns 3,472,207 shares of the company’s stock valued at $29,167,000 after buying an additional 224,744 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake in shares of Tango Therapeutics by 15.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock worth $17,611,000 after buying an additional 451,611 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on TNGX shares. Piper Sandler raised their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Guggenheim lifted their price objective on Tango Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Finally, Wolfe Research initiated coverage on Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

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.