Adam Crystal Sells 27,000 Shares of Tango Therapeutics (NASDAQ:TNGX) Stock

Key Points

• Adam Crystal sold 27,000 shares of Tango Therapeutics on May 1 at an average price of $21.23 for $573,210, leaving him with 115,743 shares valued at about $2.46M and reducing his ownership by 18.92%.
• The May 1 sale is part of a series of insider disposals since Feb. 25 — roughly 179,056 shares sold for about $3.35M total — signaling a significant reduction in his stake.
• Tango (NASDAQ:TNGX) traded up 6.6% to $24.20 (market cap ~$3.49B) and carries a consensus analyst rating of “Moderate Buy” with a $22.44 price target.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $21.23, for a total value of $573,210.00. Following the transaction, the insider owned 115,743 shares of the company's stock, valued at $2,457,223.89. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, April 15th, Adam Crystal sold 38,460 shares of Tango Therapeutics stock. The stock was sold at an average price of $25.00, for a total value of $961,500.00.
• On Wednesday, April 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $21.20, for a total value of $572,400.00.
• On Wednesday, March 25th, Adam Crystal sold 12,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $20.11, for a total value of $241,320.00.
• On Thursday, March 5th, Adam Crystal sold 20,251 shares of Tango Therapeutics stock. The stock was 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 stock was sold at an average price of $12.77, for a total value of $693,985.65.

Tango Therapeutics Stock Up 6.6%

TNGX traded up $1.49 during trading on Tuesday, hitting $24.20. 2,224,178 shares of the stock were exchanged, compared to its average volume of 3,286,227. The firm has a market capitalization of $3.49 billion, a P/E ratio of -27.82 and a beta of 1.22. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $28.41. The stock has a fifty day moving average price of $19.74 and a two-hundred day moving average price of $13.44.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping 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%. Analysts predict that Tango Therapeutics, Inc. will post -1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on TNGX. Piper Sandler boosted their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. Citigroup reiterated a "buy" rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Wedbush boosted their target price on Tango Therapeutics from $15.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Monday, April 20th. Finally, Mizuho boosted their target price on Tango Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.44.

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TNGX. Global Retirement Partners LLC bought a new position in Tango Therapeutics during the 4th quarter valued at $35,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after acquiring an additional 15,037 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after acquiring an additional 1,640 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock worth $40,000 after acquiring an additional 4,464 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Tango Therapeutics during the 4th quarter worth $40,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.

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