Barbara Weber Sells 30,519 Shares of Tango Therapeutics (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) Director Barbara Weber sold 30,519 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $11.95 on Friday. The stock’s 50-day moving average is $10.37 and its 200 day moving average is $8.55. The company has a market cap of $1.61 billion, a PE ratio of -12.85 and a beta of 1.75. Tango Therapeutics, Inc. has a 1 year low of $1.03 and a 1 year high of $13.46.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. The firm had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%. Analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TNGX shares. Wolfe Research started coverage on shares of Tango Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Stifel Nicolaus began coverage on Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tango Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC purchased a new position in Tango Therapeutics in the second quarter worth about $3,072,000. Geode Capital Management LLC increased its position in shares of Tango Therapeutics by 27.9% during the second quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock valued at $9,058,000 after acquiring an additional 385,476 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Tango Therapeutics in the 3rd quarter worth approximately $3,560,000. Stempoint Capital LP bought a new position in Tango Therapeutics in the 2nd quarter valued at approximately $1,069,000. Finally, Candriam S.C.A. purchased a new stake in Tango Therapeutics during the 2nd quarter valued at $3,629,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.