Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Sells $1,964,000.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $9.82, for a total value of $1,964,000.00. Following the completion of the transaction, the insider now directly owns 17,872,074 shares of the company’s stock, valued at approximately $175,503,766.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 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 Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The stock was 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 value of $5,386,174.09.

Tango Therapeutics Trading Down 1.0 %

Shares of NASDAQ:TNGX opened at $9.75 on Monday. Tango Therapeutics, Inc. has a 12 month low of $2.88 and a 12 month high of $13.03. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -8.63 and a beta of 0.83. The firm’s 50-day moving average is $8.53 and its 200 day moving average is $9.22.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The business had revenue of $6.47 million during the quarter, compared to analysts’ expectations of $7.13 million. As a group, equities analysts forecast that Tango Therapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on TNGX shares. Wedbush decreased their price objective on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Barclays lowered 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 report on Friday, May 24th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.86.

Institutional Trading of Tango Therapeutics

Large investors have recently made changes to their positions in the stock. Boxer Capital LLC lifted its holdings in Tango Therapeutics by 15.1% during the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after buying an additional 1,075,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares in the last quarter. Artal Group S.A. purchased a new stake in shares of Tango Therapeutics in the first quarter valued at approximately $17,427,000. RTW Investments LP bought a new position in Tango Therapeutics in the fourth quarter worth approximately $19,471,000. Finally, Mass General Brigham Inc purchased a new position in Tango Therapeutics during the 1st quarter worth $2,812,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

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.