Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells 5,000 Shares of Stock

Key Points

• Insider Adam Crystal sold 5,000 Tango Therapeutics shares at an average of $22.42, for $112,100. He retained 115,743 shares after the sale; he had also sold 27,000 shares in October.
• Tango reported a quarterly loss of $0.37 per share, missing analysts’ expected loss of $0.32. Analysts forecast a full-year loss of $1.41 per share.
• Analyst views are mixed, though the consensus rating is “Moderate Buy” with a $44.62 price target: 13 analysts rate the stock Buy, two Hold, and two Sell.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 5,000 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $112,100.00. Following the completion of the transaction, the insider directly owned 115,743 shares of the company's stock, valued at approximately $2,594,958.06. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Stock Performance

Shares of NASDAQ:TNGX traded up $0.01 during trading on Wednesday, hitting $23.18. The company's stock had a trading volume of 2,464,255 shares, compared to its average volume of 4,639,952. Tango Therapeutics, Inc. has a fifty-two week low of $7.37 and a fifty-two week high of $34.39. The stock's 50-day moving average price is $23.50 and its two-hundred day moving average price is $22.39. The company has a market capitalization of $3.91 billion, a PE ratio of -27.27 and a beta of 1.26.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results 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 analysts predict that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Tango Therapeutics by 4.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,734 shares of the company's stock valued at $336,000 after buying an additional 534 shares in the last quarter. Allworth Financial LP lifted its holdings in Tango Therapeutics by 100.9% during the 2nd quarter. Allworth Financial LP now owns 1,131 shares of the company's stock worth $35,000 after buying an additional 568 shares during the last quarter. Nykredit A S acquired a new position in shares of Tango Therapeutics in the 2nd quarter worth approximately $26,000. SG Americas Securities LLC grew its position in shares of Tango Therapeutics by 10.2% in the 1st quarter. SG Americas Securities LLC now owns 24,257 shares of the company's stock worth $507,000 after acquiring an additional 2,251 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tango Therapeutics by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company's stock valued at $10,237,000 after acquiring an additional 2,272 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TNGX. Zacks Research lowered Tango Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 27th. Wall Street Zen downgraded shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Mizuho raised their price target on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Guggenheim lifted their price target on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus set a $55.00 price target on shares of Tango Therapeutics in a report on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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