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

Key Points

• Insider sale: Adam Crystal sold 27,000 Tango Therapeutics shares for approximately $660,690, reducing his position by 18.92% to 115,743 shares.
• Stock performance and earnings: TNGX recently traded at $23.08, with a $3.89 billion market capitalization. The company reported a quarterly loss of $0.37 per share, missing analysts’ $0.32 loss estimate.
• Analyst and institutional sentiment: Analysts maintain a “Moderate Buy” consensus with an average price target of $43.46, while institutional investors own nearly 79% of the company’s stock.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total transaction of $660,690.00. Following the completion of the transaction, the insider owned 115,743 shares in the company, valued at $2,832,231.21. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tango Therapeutics Price Performance

TNGX traded down $0.16 during trading on Monday, hitting $23.08. 1,943,936 shares of the stock traded hands, compared to its average volume of 3,381,765. The firm has a market capitalization of $3.89 billion, a P/E ratio of -27.15 and a beta of 1.17. Tango Therapeutics, Inc. has a 12-month low of $6.69 and a 12-month high of $34.39. The firm has a 50-day moving average of $24.85 and a 200 day moving average of $24.92.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, equities analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TNGX has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Tango Therapeutics in a research report on Wednesday, July 15th. They set an "overweight" rating and a $46.00 price target on the stock. Raymond James Financial lowered shares of Tango Therapeutics to a "hold" rating in a report on Thursday, June 25th. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the company an "outperform" rating in a research note on Monday, June 8th. Weiss Ratings upgraded Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Finally, Leerink Partners upped their price target on Tango Therapeutics from $55.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.46.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. TRV GP IV LLC bought a new position in shares of Tango Therapeutics during the second quarter valued at $120,181,383,000. Handelsbanken Fonder AB bought a new position in Tango Therapeutics in the 2nd quarter worth about $9,000,000. Tema ETFs LLC purchased a new stake in Tango Therapeutics during the 2nd quarter valued at about $1,731,000. TRV GP VI LLC bought a new stake in Tango Therapeutics during the 2nd quarter valued at about $6,069,879. Finally, Assenagon Asset Management S.A. bought a new stake in Tango Therapeutics during the 2nd quarter valued at about $10,790,000. Hedge funds and other institutional investors own 78.99% of the company's stock.

About Tango Therapeutics

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities and activate the immune system against tumors. The company uses functional genomics, including CRISPR-based screening, to identify genetic dependencies that may be selectively targeted in cancer cells while limiting effects on healthy tissue.

Tango's research and development programs include small-molecule therapies and immuno-oncology candidates designed to address genetically defined cancers.

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