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

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 27,000 shares of the business’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 of the company’s stock, valued at approximately $2,832,231.21. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tango Therapeutics Trading Down 0.7%

TNGX stock traded down $0.16 during midday trading on Monday, hitting $23.08. The company’s stock had a trading volume of 1,943,936 shares, compared to its average volume of 3,381,765. The firm’s 50-day moving average is $24.85 and its 200-day moving average is $24.92. Tango Therapeutics, Inc. has a 12 month low of $6.69 and a 12 month high of $34.39. The company has a market cap of $3.89 billion, a PE ratio of -27.15 and a beta of 1.17.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Analysts expect that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TNGX. BlackRock Inc. purchased a new stake in Tango Therapeutics in the second quarter worth about $388,826,000. TRV GP IV LLC purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at about $120,181,383,000. Jupiter Topco LLC bought a new position in shares of Tango Therapeutics during the 2nd quarter valued at approximately $157,989,000. Seven Fleet Capital Management LP grew its stake in shares of Tango Therapeutics by 302.2% during the 2nd 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 during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Tango Therapeutics in the 2nd quarter worth approximately $62,849,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TNGX shares. HC Wainwright raised their price target on shares of Tango Therapeutics from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $27.00 to $60.00 in a research report on Thursday, June 25th. Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the stock an “outperform” rating in a report on Monday, June 8th. Weiss Ratings raised shares of 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 objective on Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.46.

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.