Tango Therapeutics (NASDAQ:TNGX) Insider Sells 8,200 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Jessica Newcomb sold 8,200 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the transaction, the insider directly owned 59,121 shares of the company’s stock, valued at $1,431,910.62. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tango Therapeutics Stock Up 0.7%

NASDAQ TNGX traded up $0.18 during trading hours on Thursday, hitting $24.63. 2,290,573 shares of the company were exchanged, compared to its average volume of 2,612,802. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -28.98 and a beta of 1.12. The company has a 50 day moving average of $25.27 and a two-hundred day moving average of $24.61. Tango Therapeutics, Inc. has a 52-week low of $6.69 and a 52-week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.

Analysts Set New Price Targets

TNGX has been the topic of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of Tango Therapeutics in a report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Jefferies Financial Group upgraded 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 research note on Thursday, June 25th. Leerink Partners lifted their price target on Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.46.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. TRV GP IV LLC acquired a new stake in Tango Therapeutics during the 2nd quarter worth $120,181,383,000. Handelsbanken Fonder AB acquired a new position in Tango Therapeutics in the second quarter valued at $9,000,000. TRV GP VI LLC acquired a new position in Tango Therapeutics in the second quarter valued at $6,069,879. Assenagon Asset Management S.A. acquired a new position in Tango Therapeutics in the second quarter valued at $10,790,000. Finally, Tema ETFs LLC purchased a new position in shares of Tango Therapeutics during the second quarter worth about $1,731,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango’s research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.