Tango Therapeutics (NASDAQ:TNGX) Insider Jessica Newcomb Sells 7,031 Shares of Company Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Jessica Newcomb sold 7,031 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $157,635.02. Following the transaction, the insider directly owned 52,090 shares of the company’s stock, valued at $1,167,857.80. This represents a 11.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Jessica Newcomb also recently made the following trade(s):

• On Tuesday, September 22nd, Jessica Newcomb sold 8,200 shares of Tango Therapeutics stock. The stock was sold at an average price of $24.22, for a total value of $198,604.00.

Tango Therapeutics Stock Up 0.0%

Tango Therapeutics stock opened at $23.18 on Thursday. The company has a market capitalization of $3.91 billion, a P/E ratio of -27.27 and a beta of 1.26. The stock’s 50 day moving average is $23.50 and its 200 day moving average is $22.39. Tango Therapeutics, Inc. has a twelve month low of $7.37 and a twelve month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data 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). As a group, equities analysts expect that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TNGX shares. Weiss Ratings raised Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. HC Wainwright restated a “buy” rating and set a $68.00 price objective on shares of Tango Therapeutics in a research note on Thursday, October 29th. Mizuho lifted their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Wall Street Zen cut shares of Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, William Blair began coverage on shares of Tango Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Thirteen equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.62.

Tango Therapeutics News Roundup

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: Tango and Erasca opened enrollment in a Phase 1/2 study combining Tango’s oral PRMT5 inhibitor vopimetostat with Erasca’s pan-RAS molecular glue ERAS-0015. The trial will evaluate patients with MTAP-deleted pancreatic cancer and MTAP-deleted/RAS-mutant non-small cell lung cancer. The partnership expands investigation of Tango’s drug into RAS-driven cancers, though the announcement did not report results from this specific study. Article
• Neutral Sentiment: CEO Malte Peters is scheduled to participate in a fireside chat at Guggenheim’s Healthcare Innovation Conference on November 10. The event could provide an opportunity for company updates, but no new clinical or financial information was announced. Article
• Negative Sentiment: Two insiders reported selling shares on November 2 at an average price of $22.42. Jessica Newcomb sold 7,031 shares and Adam Crystal sold 5,000; both retained substantial holdings after the transactions. Insider sales can raise concern, although the filings do not explain the reason for the sales. SEC filing for Jessica Newcomb SEC filing for Adam Crystal

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. Allspring Global Investments Holdings LLC grew its stake in shares of Tango Therapeutics by 4.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,734 shares of the company’s stock worth $336,000 after acquiring an additional 534 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Tango Therapeutics in the third quarter worth approximately $215,000. Profund Advisors LLC grew its position in Tango Therapeutics by 48.8% in the 3rd quarter. Profund Advisors LLC now owns 62,319 shares of the company’s stock worth $1,555,000 after purchasing an additional 20,430 shares during the period. Vise Technologies Inc. bought a new stake in Tango Therapeutics in the 3rd quarter worth approximately $319,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Tango Therapeutics by 28.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,165 shares of the company’s stock valued at $908,000 after buying an additional 8,144 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

About Tango Therapeutics

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for cancer. The company uses functional genomics and genetic screening to identify vulnerabilities in tumor cells, including dependencies created by tumor-suppressor gene loss, and to develop targeted therapies designed to selectively attack cancer cells.

Tango’s pipeline includes small-molecule programs for genetically defined solid tumors. Its lead program, TNG462, is an MTA-cooperative PRMT5 inhibitor being developed for cancers with MTAP gene deletions.