Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells $660,690.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $24.47, for a total value of $660,690.00. Following the completion of the sale, the insider owned 115,743 shares in the company, valued at $2,832,231.21. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Tango Therapeutics Stock Down 0.3%

TNGX stock opened at $21.83 on Thursday. Tango Therapeutics, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $34.39. The firm’s 50-day simple moving average is $24.60 and its 200 day simple moving average is $24.99. The stock has a market cap of $3.68 billion, a PE ratio of -25.68 and a beta of 1.17.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). Equities analysts forecast that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. TRV GP IV LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at $120,181,383,000. Tidal Investments LLC acquired a new position in Tango Therapeutics during the second quarter worth about $1,731,000. Handelsbanken Fonder AB bought a new stake in Tango Therapeutics in the second quarter worth about $9,000,000. Tema ETFs LLC bought a new stake in Tango Therapeutics in the second quarter worth about $1,731,000. Finally, TRV GP VI LLC acquired a new stake in Tango Therapeutics in the 2nd quarter valued at about $6,069,879. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Mizuho lifted their target price on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Raymond James Financial lowered Tango Therapeutics to a “hold” rating in a research report on Thursday, June 25th. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $27.00 to $60.00 in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $43.46.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities and activate the immune system against tumors. The company uses functional genomics, including CRISPR-based screening, to identify genetic dependencies that may be selectively targeted in cancer cells while limiting effects on healthy tissue.

Tango’s research and development programs include small-molecule therapies and immuno-oncology candidates designed to address genetically defined cancers.