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

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at $3,424,835.37. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Adam Crystal also recently made the following trade(s):

• On Monday, June 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $22.87, for a total transaction of $617,490.00.
• On Friday, May 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $21.23, for a total transaction of $573,210.00.
• On Wednesday, April 15th, Adam Crystal sold 38,460 shares of Tango Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $961,500.00.

Tango Therapeutics Stock Performance

NASDAQ TNGX traded up $0.73 on Thursday, hitting $29.46. 2,307,526 shares of the stock traded hands, compared to its average volume of 6,655,349. The business’s fifty day moving average is $25.50 and its two-hundred day moving average is $18.41. Tango Therapeutics, Inc. has a 12 month low of $5.34 and a 12 month high of $34.39. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -35.49 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). Analysts expect that Tango Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Tango Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC boosted its holdings in shares of Tango Therapeutics by 21.4% in the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after purchasing an additional 2,304,411 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Siren L.L.C. raised its stake in shares of Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after acquiring an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Tango Therapeutics by 84.8% in the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock valued at $55,097,000 after purchasing an additional 2,853,362 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TNGX. Stifel Nicolaus raised their price target on shares of Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 27th. Mizuho set a $36.00 price objective on Tango Therapeutics in a research report on Monday, June 8th. Guggenheim lifted their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 6th. HC Wainwright boosted their target price on Tango Therapeutics from $27.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

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.