Tango Therapeutics (NASDAQ:TNGX) Trading Down 10.4% – Should You Sell?

Tango Therapeutics, Inc. (NASDAQ:TNGX) shares traded down 10.4% on Thursday . The stock traded as low as $11.56 and last traded at $11.3190. 1,482,508 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 2,899,513 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TNGX. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Piper Sandler boosted their price target on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Mizuho assumed coverage on Tango Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $19.00 target price on the stock. Finally, B. Riley Financial upped their price target on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Tango Therapeutics Stock Down 2.3%

The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -11.98 and a beta of 1.75. The firm has a 50-day moving average of $11.35 and a two-hundred day moving average of $9.20.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Crystal sold 54,345 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the transaction, the insider owned 132,873 shares in the company, valued at $1,696,788.21. This represents a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,633 shares of company stock valued at $1,420,857 in the last 90 days. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after acquiring an additional 3,167 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth $35,000. Dynamic Technology Lab Private Ltd boosted its position in Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc grew its stake in Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.