Tango Therapeutics (NASDAQ:TNGX) Insider Adam Crystal Sells 20,251 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 20,251 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $15.00, for a total transaction of $303,765.00. Following the completion of the sale, the insider directly owned 112,622 shares of the company’s stock, valued at $1,689,330. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, February 25th, Adam Crystal sold 54,345 shares of Tango Therapeutics stock. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65.
• On Tuesday, February 3rd, Adam Crystal sold 18,452 shares of Tango Therapeutics stock. The stock was sold at an average price of $12.26, for a total value of $226,221.52.

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $16.45 on Tuesday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -18.91 and a beta of 1.76. Tango Therapeutics, Inc. has a one year low of $1.03 and a one year high of $17.63. The stock has a 50-day simple moving average of $12.02 and a 200 day simple moving average of $9.54.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. On average, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its position in shares of 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 worth $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Caligan Partners LP bought a new stake in Tango Therapeutics in the 4th quarter valued at about $33,047,000. Goldman Sachs Group Inc. boosted its stake in Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after purchasing an additional 3,432,939 shares during the period. Logos Global Management LP boosted its stake in Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after purchasing an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new position in Tango Therapeutics in the 3rd quarter worth about $25,924,000. 78.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TNGX shares. Wedbush raised their price objective on Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday. B. Riley Financial boosted their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wolfe Research initiated coverage on shares of Tango Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Mizuho initiated coverage on shares of Tango Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $19.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

About Tango Therapeutics

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.