Tango Therapeutics (NASDAQ:TNGX) Insider Adam Crystal Sells 12,000 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $20.11, for a total transaction of $241,320.00. Following the transaction, the insider owned 112,622 shares in the company, valued at approximately $2,264,828.42. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, March 5th, Adam Crystal sold 20,251 shares of Tango Therapeutics stock. The shares were sold at an average price of $15.00, for a total value of $303,765.00.
• On Wednesday, February 25th, Adam Crystal sold 54,345 shares of Tango Therapeutics stock. The shares were sold at an average price of $12.77, for a total value of $693,985.65.
• On Tuesday, February 3rd, Adam Crystal sold 18,452 shares of Tango Therapeutics stock. The shares were sold at an average price of $12.26, for a total transaction of $226,221.52.

Tango Therapeutics Stock Down 3.0%

Tango Therapeutics stock opened at $19.26 on Friday. The firm has a 50 day moving average price of $14.29 and a 200-day moving average price of $10.68. Tango Therapeutics, Inc. has a twelve month low of $1.03 and a twelve month high of $21.82. The company has a market capitalization of $2.75 billion, a P/E ratio of -22.14 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. Equities analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

TNGX has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Mizuho lifted their target price on shares of Tango Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. HC Wainwright lifted their price target on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Guggenheim upped their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its stake in shares of Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after purchasing an additional 8,096,924 shares in the last quarter. Caligan Partners LP purchased a new position in Tango Therapeutics during the 4th quarter valued at approximately $33,047,000. Goldman Sachs Group Inc. grew its holdings in shares of Tango Therapeutics by 227.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after purchasing an additional 3,432,939 shares in the last quarter. Logos Global Management LP grew its stake in shares of Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after buying an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new stake in Tango Therapeutics during the third quarter worth approximately $25,924,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

About Tango Therapeutics

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.