Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $4,348,710.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 633,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $6.87, for a total value of $4,348,710.00. Following the transaction, the insider now directly owns 6,690,642 shares in the company, valued at $45,964,710.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Boxer Capital Management, Llc also recently made the following trade(s):

• On Monday, October 21st, Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00.

Tango Therapeutics Stock Down 4.8 %

Shares of NASDAQ TNGX opened at $5.71 on Thursday. The business’s 50 day moving average is $8.41 and its two-hundred day moving average is $8.44. The company has a market cap of $610.09 million, a P/E ratio of -5.05 and a beta of 0.81. Tango Therapeutics, Inc. has a 12 month low of $5.62 and a 12 month high of $13.01.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TNGX. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Jefferies Financial Group started coverage on Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price on the stock. Wedbush lifted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Monday. 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 data from MarketBeat, Tango Therapeutics currently has an average rating of “Buy” and an average target price of $15.14.

Hedge Funds Weigh In On Tango Therapeutics

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after acquiring an additional 1,426 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Tango Therapeutics by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock valued at $253,000 after purchasing an additional 2,218 shares during the last quarter. SG Americas Securities LLC increased its holdings in Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after purchasing an additional 4,203 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Tango Therapeutics in the second quarter valued at about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.