Tango Therapeutics (NASDAQ:TNGX) Stock: Insider Adam Crystal Sells 5,000 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the insider directly owned 115,743 shares in the company, valued at $2,893,575. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 2nd, Adam Crystal sold 5,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $22.42, for a total transaction of $112,100.00.
• On Thursday, October 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $24.47, for a total value of $660,690.00.

Tango Therapeutics Trading Up 2.6%

NASDAQ:TNGX traded up $0.65 during trading hours on Friday, reaching $25.50. 2,706,112 shares of the company traded hands, compared to its average volume of 3,492,359. The business’s 50-day moving average price is $23.47 and its two-hundred day moving average price is $22.72. The stock has a market capitalization of $4.32 billion, a P/E ratio of -18.61 and a beta of 1.26. Tango Therapeutics, Inc. has a 1 year low of $7.60 and a 1 year high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). As a group, equities analysts anticipate that Tango Therapeutics, Inc. will post -1.46 EPS for the current year.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently bought and sold shares of the business. TRV GP IV LLC purchased a new stake in shares of Tango Therapeutics during the second quarter worth about $120,181,383,000. Tidal Investments LLC purchased a new position in Tango Therapeutics during the second quarter valued at $1,731,000. Handelsbanken Fonder AB purchased a new position in Tango Therapeutics during the second quarter valued at $9,000,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tango Therapeutics in the second quarter worth about $19,884,000. Finally, Tema ETFs LLC purchased a new position in Tango Therapeutics during the 2nd quarter valued at approximately $1,731,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics News Summary

Investors following TNGX have been watching these news items:

• Positive Sentiment: An analyst upgrade was followed by a sharp rise in Tango shares, suggesting the change in rating helped support investor sentiment. Tango Therapeutics stock price up after analyst upgrade
• Positive Sentiment: Canaccord Genuity reaffirmed its Buy rating, while HC Wainwright also maintained a Buy rating and a $67 price target despite revising its forecasts. Continued Buy ratings may help offset concerns about near-term losses. Canaccord Genuity sticks to its Buy rating HC Wainwright lowers expectations
• Neutral Sentiment: Shares moved above their 50-day moving average despite the earnings miss, a technical signal that may indicate improving near-term momentum. TNGX moves above its 50-day moving average

Analyst Ratings Changes

A number of analysts have commented on the stock. William Blair assumed coverage on shares of Tango Therapeutics in a report on Friday, October 16th. They set an “outperform” rating for the company. Wall Street Zen cut shares of Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tango Therapeutics in a research report on Wednesday, November 4th. Stifel Nicolaus set a $55.00 price objective on shares of Tango Therapeutics in a research report on Friday, October 23rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of Tango Therapeutics in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.54.

About Tango Therapeutics

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.