Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells 27,000 Shares of Stock

Key Points

• Adam Crystal sold 27,000 shares of Tango Therapeutics on April 1 at an average price of $21.20 for $572,400, reducing his direct holdings to 112,622 shares (a 19.34% decrease) under a pre-arranged Rule 10b5-1 plan.
• That sale is part of a recent selling spree (Feb–Apr) in which Crystal disposed of multiple blocks totaling just over $2.0 million in aggregate proceeds.
• TNGX is trading around $21.63 (near its 1‑year high of $22.20), and analysts have generally raised price targets—the average target is $20.67 with the consensus rating around “Moderate Buy.”

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $21.20, for a total transaction of $572,400.00. Following the completion of the sale, the insider directly owned 112,622 shares in the company, valued at approximately $2,387,586.40. The trade was a 19.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction 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 transaction of $693,985.65.
• On Tuesday, February 3rd, Adam Crystal sold 18,452 shares of Tango Therapeutics stock. The stock was sold at an average price of $12.26, for a total transaction of $226,221.52.

Tango Therapeutics Price Performance

Tango Therapeutics stock traded up $0.41 during mid-day trading on Thursday, reaching $21.63. The company had a trading volume of 2,924,567 shares, compared to its average volume of 4,264,982. The stock's 50-day simple moving average is $14.94 and its 200-day simple moving average is $11.05. The company has a market capitalization of $3.09 billion, a P/E ratio of -24.86 and a beta of 1.31. Tango Therapeutics, Inc. has a 1 year low of $1.03 and a 1 year high of $22.20.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, equities analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at about $1,906,000. XTX Topco Ltd acquired a new position in Tango Therapeutics in the fourth quarter worth about $335,000. VARCOV Co. acquired a new position in Tango Therapeutics in the fourth quarter worth about $261,000. Virtus Investment Advisers LLC increased its holdings in Tango Therapeutics by 26.3% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company's stock valued at $252,000 after buying an additional 5,920 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in Tango Therapeutics by 27.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company's stock valued at $605,000 after buying an additional 14,679 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TNGX. Stifel Nicolaus upped their target price on Tango Therapeutics from $15.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Wedbush boosted their price target on Tango Therapeutics from $15.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Guggenheim upped their price target on Tango Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Mizuho increased their price objective on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. Finally, HC Wainwright lifted their price objective on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Ten 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, the company presently has an average rating of "Moderate Buy" and an average target price of $20.67.

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.

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