Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells 38,460 Shares of Stock

Key Points

• Insider selling: Adam Crystal sold 38,460 shares on April 15 at an average of $25.00 for $961,500, and has disposed of a total of 170,508 shares in recent transactions for roughly $3.0M, cutting his stake by 25.46% to 112,622 shares.
• Tango shares trade around $25.04 (near the 12‑month high of $26) with a market capitalization of about $3.57 billion and a negative P/E; analysts collectively rate the stock a “Moderate Buy” with a consensus price target of $20.67, below the current price.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 38,460 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total transaction of $961,500.00. Following the sale, the insider owned 112,622 shares of the company's stock, valued at $2,815,550. This represents a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 transaction 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 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 transaction 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

Shares of NASDAQ:TNGX traded down $0.29 during trading on Thursday, hitting $25.04. 2,427,370 shares of the company were exchanged, compared to its average volume of 3,009,367. The firm's 50 day moving average price is $16.94 and its 200-day moving average price is $12.03. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $26.00. The stock has a market capitalization of $3.57 billion, a P/E ratio of -28.78 and a beta of 1.31.

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, beating the consensus estimate 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%. As a group, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP acquired a new position in Tango Therapeutics in the 4th quarter valued at $1,906,000. XTX Topco Ltd acquired a new position in shares of Tango Therapeutics during the 4th quarter worth $335,000. VARCOV Co. acquired a new position in shares of Tango Therapeutics during the 4th quarter worth $261,000. Virtus Investment Advisers LLC grew its stake in shares of Tango Therapeutics by 26.3% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company's stock worth $252,000 after purchasing an additional 5,920 shares during the period. Finally, Tudor Investment Corp ET AL grew its stake in shares of Tango Therapeutics by 27.4% during the 4th quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company's stock worth $605,000 after purchasing an additional 14,679 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Wedbush upped their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. HC Wainwright upped their price target on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, March 6th. Jefferies Financial Group reissued a "buy" rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research note on Thursday, March 5th. Finally, B. Riley Financial reissued a "buy" rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tango Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target 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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