Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Sells $1,513,500.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $10.09, for a total transaction of $1,513,500.00. Following the transaction, the insider now owns 17,201,475 shares of the company’s stock, valued at $173,562,882.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock 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 Friday, August 16th, Rock Ventures Iv L.P. Third sold 135,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.79, for a total value of $1,321,650.00.
• On Thursday, August 1st, Rock Ventures Iv L.P. Third sold 40,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.80, for a total value of $392,000.00.
• On Wednesday, July 24th, Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.82, for a total transaction 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 shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09.

Tango Therapeutics Trading Up 4.0 %

TNGX stock traded up $0.43 during trading on Tuesday, hitting $11.11. The company had a trading volume of 566,082 shares, compared to its average volume of 684,096. Tango Therapeutics, Inc. has a one year low of $5.15 and a one year high of $13.03. The business has a 50-day moving average of $9.23 and a 200-day moving average of $8.97. The stock has a market cap of $1.19 billion, a PE ratio of -9.83 and a beta of 0.83.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million during the quarter, compared to analysts’ expectations of $7.39 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Research analysts forecast that Tango Therapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AJOVista LLC acquired a new stake in Tango Therapeutics during the fourth quarter worth approximately $61,000. Point72 DIFC Ltd acquired a new position in Tango Therapeutics in the second quarter valued at approximately $54,000. Cowen AND Company LLC bought a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $99,000. Paloma Partners Management Co bought a new stake in shares of Tango Therapeutics in the 1st quarter valued at $80,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Tango Therapeutics during the 2nd quarter valued at $90,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TNGX has been the topic of a number of research reports. Wedbush upped their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. Barclays cut their price target on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.14.

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.