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

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 5,000 shares of Tango Therapeutics stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $22.42, for a total value of $112,100.00. Following the sale, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $2,594,958.06. This trade represents a 4.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 0.0%

Shares of Tango Therapeutics stock opened at $23.18 on Thursday. The firm has a market capitalization of $3.91 billion, a PE ratio of -27.27 and a beta of 1.26. The business’s 50-day moving average price is $23.50 and its 200-day moving average price is $22.39. Tango Therapeutics, Inc. has a 12 month low of $7.37 and a 12 month high of $34.39.

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

Tango Therapeutics News Roundup

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: Tango and Erasca opened enrollment in a Phase 1/2 study combining Tango’s oral PRMT5 inhibitor vopimetostat with Erasca’s pan-RAS molecular glue ERAS-0015. The trial will evaluate patients with MTAP-deleted pancreatic cancer and MTAP-deleted/RAS-mutant non-small cell lung cancer. The partnership expands investigation of Tango’s drug into RAS-driven cancers, though the announcement did not report results from this specific study. Article
• Neutral Sentiment: CEO Malte Peters is scheduled to participate in a fireside chat at Guggenheim’s Healthcare Innovation Conference on November 10. The event could provide an opportunity for company updates, but no new clinical or financial information was announced. Article
• Negative Sentiment: Two insiders reported selling shares on November 2 at an average price of $22.42. Jessica Newcomb sold 7,031 shares and Adam Crystal sold 5,000; both retained substantial holdings after the transactions. Insider sales can raise concern, although the filings do not explain the reason for the sales. SEC filing for Jessica Newcomb SEC filing for Adam Crystal

Institutional Investors Weigh In On Tango Therapeutics

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

Analyst Ratings Changes

Several research analysts have commented on TNGX shares. Zacks Research downgraded shares of Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. 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. Stifel Nicolaus set a $55.00 price objective on shares of Tango Therapeutics in a research note on Friday, October 23rd. Mizuho increased their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Guggenheim lifted their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.62.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for cancer. The company uses functional genomics and genetic screening to identify vulnerabilities in tumor cells, including dependencies created by tumor-suppressor gene loss, and to develop targeted therapies designed to selectively attack cancer cells.

Tango’s pipeline includes small-molecule programs for genetically defined solid tumors. Its lead program, TNG462, is an MTA-cooperative PRMT5 inhibitor being developed for cancers with MTAP gene deletions.