Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $4,406,250.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 625,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the transaction, the insider now directly owns 7,573,642 shares in the company, valued at approximately $53,394,176.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Tango Therapeutics Stock Performance

TNGX stock opened at $5.93 on Friday. Tango Therapeutics, Inc. has a fifty-two week low of $5.83 and a fifty-two week high of $13.01. The company has a market capitalization of $633.60 million, a price-to-earnings ratio of -5.25 and a beta of 0.81. The business’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $8.46.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The business had revenue of $19.88 million during the quarter, compared to the consensus estimate of $7.39 million. Sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, September 10th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, Wedbush upped their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tango Therapeutics currently has an average rating of “Buy” and a consensus target price of $15.14.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares in the last quarter. Artal Group S.A. purchased a new position in Tango Therapeutics during the first quarter valued at $17,427,000. Point72 Asset Management L.P. bought a new stake in Tango Therapeutics in the second quarter worth $3,836,000. Dimensional Fund Advisors LP increased its holdings in shares of Tango Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after acquiring an additional 100,257 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Tango Therapeutics by 110.8% during the fourth quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock valued at $1,685,000 after acquiring an additional 89,481 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.