Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells 5,000 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 5,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $112,100.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,594,958.06. The trade was a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, October 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $24.47, for a total transaction of $660,690.00.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock traded up $0.01 during trading hours on Wednesday, reaching $23.18. The company’s stock had a trading volume of 2,464,255 shares, compared to its average volume of 4,639,952. The company’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $22.39. Tango Therapeutics, Inc. has a one year low of $7.37 and a one year high of $34.39. The stock has a market cap of $3.91 billion, a P/E ratio of -27.27 and a beta of 1.26.

Tango Therapeutics (NASDAQ:TNGX) last announced 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). On average, sell-side analysts predict that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TNGX shares. Wall Street Zen downgraded Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. William Blair assumed coverage on Tango Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating on the stock. Zacks Research downgraded Tango Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. HC Wainwright restated a “buy” rating and set a $68.00 price objective on shares of Tango Therapeutics in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. began coverage on Tango Therapeutics in a research report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $26,000. Allworth Financial LP bought a new position in Tango Therapeutics in the 2nd quarter worth approximately $35,000. Sterling Capital Management LLC grew its holdings in Tango Therapeutics by 838.8% in the 3rd quarter. Sterling Capital Management LLC now owns 4,647 shares of the company’s stock worth $116,000 after buying an additional 4,152 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Tango Therapeutics in the 2nd quarter valued at approximately $122,000. Finally, State of Wyoming acquired a new stake in Tango Therapeutics in the 1st quarter valued at approximately $128,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.