Tango Therapeutics (NASDAQ:TNGX) Stock: Insider Jessica Newcomb Sells 8,200 Shares

Key Points

• Insider Jessica Newcomb sold 8,200 Tango Therapeutics shares at an average price of $24.22, generating $198,604 and reducing her ownership by 12.18% to 59,121 shares.
• TNGX rose 0.7% to $24.63, with a $4.15 billion market capitalization, while the company reported quarterly EPS of negative $0.37—below the consensus estimate of negative $0.32.
• Analyst sentiment remains generally positive: 13 analysts rate the stock Buy, two rate it Hold and one rates it Sell, resulting in a Moderate Buy consensus and a $43.46 average price target.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Jessica Newcomb sold 8,200 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the completion of the transaction, the insider owned 59,121 shares of the company's stock, valued at $1,431,910.62. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Tango Therapeutics Stock Up 0.7%

NASDAQ:TNGX traded up $0.18 on Thursday, reaching $24.63. The company's stock had a trading volume of 2,290,573 shares, compared to its average volume of 2,612,802. Tango Therapeutics, Inc. has a 12-month low of $6.69 and a 12-month high of $34.39. The stock has a 50 day moving average price of $25.27 and a 200 day moving average price of $24.61. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -28.98 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). Equities research analysts expect that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Trading of Tango Therapeutics

Several hedge funds have recently made changes to their positions in TNGX. Allworth Financial LP increased its stake 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 period. Nykredit A S purchased a new position in Tango Therapeutics in the 2nd quarter valued at approximately $26,000. SG Americas Securities LLC boosted its position in Tango Therapeutics by 10.2% in the 1st quarter. SG Americas Securities LLC now owns 24,257 shares of the company's stock valued at $507,000 after buying an additional 2,251 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tango Therapeutics by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company's stock worth $10,237,000 after acquiring an additional 2,272 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Tango Therapeutics in the second quarter worth $122,000. Institutional investors and hedge funds own 78.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Leerink Partners boosted their price target on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Guggenheim lifted their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen lowered Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Mizuho raised their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.46.

About Tango Therapeutics

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango's research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.

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