Tango Therapeutics (NASDAQ:TNGX) Insider Adam Crystal Sells 12,000 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $20.11, for a total transaction of $241,320.00. Following the completion of the transaction, the insider owned 112,622 shares in the company, valued at $2,264,828.42. This represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, March 5th, Adam Crystal sold 20,251 shares of Tango Therapeutics stock. The shares were sold at an average price of $15.00, for a total transaction of $303,765.00.
• 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 transaction of $226,221.52.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $19.26 on Friday. The firm has a fifty day moving average of $14.29 and a two-hundred day moving average of $10.66. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -22.14 and a beta of 1.76. Tango Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $21.82.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farallon Capital Management LLC grew its stake in Tango Therapeutics by 21.4% in the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock valued at $115,724,000 after acquiring an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. raised 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 purchasing an additional 8,096,924 shares during the period. Siren L.L.C. raised its position in shares of Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after purchasing an additional 2,282,186 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after purchasing an additional 1,698,974 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Tango Therapeutics by 84.8% during the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock valued at $55,097,000 after purchasing an additional 2,853,362 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TNGX shares. Guggenheim raised their target price on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Wall Street Zen cut Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Mizuho increased their price target on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Stifel Nicolaus lifted their price objective on shares of Tango Therapeutics from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, HC Wainwright boosted their price objective on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday, March 6th. Nine 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. According to data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

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.