Tango Therapeutics (NASDAQ:TNGX) Stock: Insider Adam Crystal Sells 5,000 Shares

Key Points

• Insider Adam Crystal sold 5,000 Tango Therapeutics shares at an average $25 each, totaling $125,000. He retained 115,743 shares after the sale; the article also notes two earlier sales.
• Tango reported a quarterly loss of $0.39 per share, missing analyst expectations of a $0.35 loss.
• The stock traded at $25.50, while analysts’ consensus rating was “Moderate Buy” with a $45.54 average price target.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 5,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider owned 115,743 shares of the company's stock, valued at $2,893,575. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 2nd, Adam Crystal sold 5,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $22.42, for a total value of $112,100.00.
• 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 Price Performance

TNGX stock traded up $0.65 during midday trading on Friday, reaching $25.50. 2,706,112 shares of the stock were exchanged, compared to its average volume of 3,492,359. Tango Therapeutics, Inc. has a 52 week low of $7.60 and a 52 week high of $34.39. The company has a fifty day moving average price of $23.47 and a 200 day moving average price of $22.72. The stock has a market capitalization of $4.32 billion, a PE ratio of -18.61 and a beta of 1.26.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Monday, November 9th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). As a group, analysts anticipate that Tango Therapeutics, Inc. will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Tango Therapeutics in the second quarter worth approximately $388,826,000. TRV GP IV LLC purchased a new position in shares of Tango Therapeutics during the second quarter valued at approximately $120,181,383,000. Jupiter Topco LLC bought a new position in shares of Tango Therapeutics during the second quarter valued at approximately $157,989,000. Seven Fleet Capital Management LP raised its holdings in shares of Tango Therapeutics by 302.2% during the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company's stock valued at $95,661,000 after acquiring an additional 2,425,484 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Tango Therapeutics in the 2nd quarter worth $62,849,000. 78.99% of the stock is currently owned by institutional investors.

Latest Tango Therapeutics News

These are some of the TNGX news items that stood out recently:

• Positive Sentiment: An analyst upgrade was followed by a sharp rise in Tango shares, suggesting the change in rating helped support investor sentiment. Tango Therapeutics stock price up after analyst upgrade
• Neutral Sentiment: Shares moved above their 50-day moving average despite the earnings miss, a technical signal that may indicate improving near-term momentum. TNGX moves above its 50-day moving average
• Negative Sentiment: Tango reported a quarterly loss of $0.39 per share, wider than the $0.35 loss analysts expected, underscoring continued operating losses.

Analyst Ratings Changes

TNGX has been the topic of several recent research reports. Stifel Nicolaus set a $55.00 target price on shares of Tango Therapeutics in a research report on Friday, October 23rd. William Blair assumed coverage on shares of Tango Therapeutics in a report on Friday, October 16th. They set an "outperform" rating for the company. Wall Street Zen lowered shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Zacks Research downgraded shares of Tango Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tango Therapeutics from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

Tango Therapeutics Company Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.

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