Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Sells $867,000.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 75,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $11.56, for a total value of $867,000.00. Following the transaction, the insider now owns 16,926,475 shares in the company, valued at $195,670,051. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 30th, Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00.
• On Tuesday, August 27th, Rock Ventures Iv L.P. Third sold 25,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $11.55, for a total value of $288,750.00.
• On Monday, August 19th, Rock Ventures Iv L.P. Third sold 150,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $10.09, for a total transaction of $1,513,500.00.
• On Friday, August 16th, Rock Ventures Iv L.P. Third sold 135,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.79, for a total transaction of $1,321,650.00.
• On Thursday, August 1st, Rock Ventures Iv L.P. Third sold 40,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00.
• On Wednesday, July 24th, Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.82, for a total transaction of $1,964,000.00.
• On Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.78, for a total value of $2,569,597.20.
• On Wednesday, July 17th, Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.79, for a total value of $5,386,174.09.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $9.69 on Thursday. Tango Therapeutics, Inc. has a 12 month low of $5.15 and a 12 month high of $13.03. The firm has a market capitalization of $1.04 billion, a P/E ratio of -8.58 and a beta of 0.84. The company’s fifty day moving average price is $9.93 and its 200 day moving average price is $8.86.

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

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boxer Capital LLC increased its holdings in shares of Tango Therapeutics by 15.1% in the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after acquiring an additional 1,075,000 shares during the period. Vanguard Group Inc. grew its position in Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after purchasing an additional 101,673 shares during the last quarter. Artal Group S.A. acquired a new position in Tango Therapeutics in the first quarter valued at $17,427,000. RTW Investments LP purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $19,471,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tango Therapeutics in the second quarter valued at about $3,836,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush lifted their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Barclays reduced their price objective on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.14.

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.