Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells 633,000 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 633,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the completion of the sale, the insider now directly owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Price Performance

Shares of Tango Therapeutics stock opened at $5.93 on Monday. The stock has a market capitalization of $633.60 million, a price-to-earnings ratio of -5.25 and a beta of 0.81. The business has a 50-day moving average of $8.70 and a 200 day moving average of $8.48. Tango Therapeutics, Inc. has a 12 month low of $5.83 and a 12 month high of $13.01.

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

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds have recently modified their holdings of TNGX. Price T Rowe Associates Inc. MD boosted 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 worth $102,000 after buying an additional 1,426 shares during the period. The Manufacturers Life Insurance Company lifted its position in Tango Therapeutics by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after acquiring an additional 2,218 shares during the period. SG Americas Securities LLC grew its stake in shares of Tango Therapeutics by 16.0% in the 1st 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 purchased a new stake in shares of Tango Therapeutics during the second quarter worth approximately $54,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock worth $230,000 after purchasing an additional 7,128 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TNGX shares. Wedbush increased their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. Seven investment 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 an average 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.