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 company’s stock in a transaction that occurred on 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 directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 stock was sold at an average price of $25.00, for a total value of $961,500.00.

Tango Therapeutics Trading Up 2.5%

Shares of NASDAQ TNGX opened at $29.46 on Friday. The stock has a market cap of $4.26 billion, a P/E ratio of -35.49 and a beta of 1.12. Tango Therapeutics, Inc. has a 12-month low of $5.34 and a 12-month high of $34.39. The business’s fifty day simple moving average is $25.50 and its 200-day simple moving average is $18.41.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.32). On average, equities analysts forecast that Tango Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TNGX. DV Trading LLC acquired a new stake in Tango Therapeutics during the 1st quarter worth $6,290,000. Perceptive Advisors LLC boosted its stake in Tango Therapeutics by 57.5% in the first quarter. Perceptive Advisors LLC now owns 808,153 shares of the company’s stock valued at $16,907,000 after acquiring an additional 295,118 shares in the last quarter. Stempoint Capital LP purchased a new position in shares of Tango Therapeutics during the first quarter worth about $4,203,000. The Manufacturers Life Insurance Company grew its holdings in shares of Tango Therapeutics by 234.6% during the first quarter. The Manufacturers Life Insurance Company now owns 108,218 shares of the company’s stock worth $2,264,000 after purchasing an additional 75,876 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of Tango Therapeutics during the first quarter worth about $262,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TNGX. Piper Sandler downgraded Tango Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $16.00 to $24.00 in a research report on Thursday, May 14th. Leerink Partners lifted their price target on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Wedbush boosted their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Finally, Raymond James Financial lowered shares of Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.50.

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.