Rock Ventures Iv L.P. Third Sells 500,000 Shares of Tango Therapeutics (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 500,000 shares of Tango Therapeutics stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $8.02, for a total value of $4,010,000.00. Following the completion of the sale, the insider directly owned 13,863,975 shares of the company’s stock, valued at approximately $111,189,079.50. The trade was a 3.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Rock Ventures Iv L.P. Third also recently made the following trade(s):

• On Tuesday, September 16th, Rock Ventures Iv L.P. Third sold 363,541 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.04, for a total value of $2,559,328.64.
• On Monday, September 8th, Rock Ventures Iv L.P. Third sold 86,459 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.04, for a total value of $608,671.36.
• On Friday, September 5th, Rock Ventures Iv L.P. Third sold 642,906 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.00, for a total value of $4,500,342.00.
• On Friday, August 22nd, Rock Ventures Iv L.P. Third sold 302,194 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.00, for a total value of $2,115,358.00.
• On Tuesday, August 19th, Rock Ventures Iv L.P. Third sold 1,100,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.01, for a total transaction of $7,711,000.00.

Tango Therapeutics Stock Down 5.1%

Shares of TNGX stock opened at $7.97 on Thursday. The company has a 50 day moving average price of $6.99 and a 200-day moving average price of $4.38. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $8.80. The firm has a market capitalization of $886.74 million, a PE ratio of -5.99 and a beta of 1.67.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Tuesday, August 5th. The company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. The business had revenue of $3.18 million during the quarter, compared to the consensus estimate of $6.41 million. Analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on TNGX shares. Guggenheim lifted their price objective on Tango Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Piper Sandler assumed coverage on Tango Therapeutics in a research note on Monday, August 18th. They set an “overweight” rating and a $11.00 price target for the company. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $10.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new position in shares of Tango Therapeutics in the 2nd quarter valued at about $30,235,000. Commodore Capital LP bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $7,680,000. Soleus Capital Management L.P. bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $3,738,000. Candriam S.C.A. bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $3,629,000. Finally, Vivo Capital LLC bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $3,072,000. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Company Profile

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.