Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Rock Ventures Iv L.P. Third Sells 67,400 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now owns 16,859,075 shares of the company’s stock, valued at $177,526,059.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 Thursday, September 5th, Rock Ventures Iv L.P. Third sold 75,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $11.56, for a total transaction of $867,000.00.
• On Friday, August 30th, Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $11.60, for a total transaction of $2,030,000.00.
• On Tuesday, August 27th, Rock Ventures Iv L.P. Third sold 25,000 shares of Tango Therapeutics stock. The stock was 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 shares were 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 shares were sold at an average price of $9.82, for a total value 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 transaction 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 transaction of $5,386,174.09.

Tango Therapeutics Trading Down 10.3 %

TNGX stock traded down $0.99 during midday trading on Tuesday, hitting $8.62. 1,997,608 shares of the company’s stock were exchanged, compared to its average volume of 729,372. The stock has a market capitalization of $921.01 million, a PE ratio of -7.63 and a beta of 0.84. Tango Therapeutics, Inc. has a 1-year low of $5.15 and a 1-year high of $13.03. The business has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $8.81.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The business had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. As a group, research analysts expect that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TNGX has been the subject of several research reports. Jefferies Financial Group started coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Barclays dropped their price objective on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Wedbush raised their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.14.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently modified their holdings of the company. Artal Group S.A. acquired a new position in Tango Therapeutics in the 1st quarter valued at about $17,427,000. RTW Investments LP purchased a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $19,471,000. Boxer Capital LLC grew its holdings in shares of Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Tango Therapeutics during the 2nd quarter worth approximately $3,836,000. Finally, Mass General Brigham Inc purchased a new stake in shares of Tango Therapeutics during the first quarter worth $2,812,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.