Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells 75,000 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $7.43, for a total transaction of $557,250.00. Following the completion of the transaction, the insider now owns 618,524 shares in the company, valued at approximately $4,595,633.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mva Investors, Llc also recently made the following trade(s):

• On Friday, May 3rd, Mva Investors, Llc sold 60,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.61, for a total transaction of $456,600.00.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $7.61 on Friday. Tango Therapeutics, Inc. has a 1-year low of $2.47 and a 1-year high of $13.03. The company has a market capitalization of $812.29 million, a PE ratio of -6.92 and a beta of 0.84. The business has a 50-day moving average of $8.58 and a 200-day moving average of $9.33.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. The business had revenue of $5.43 million during the quarter, compared to analysts’ expectations of $7.86 million. On average, equities analysts expect that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on TNGX. Piper Sandler assumed coverage on Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Monday, March 18th. Cantor Fitzgerald initiated coverage on Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating on the stock. Finally, HC Wainwright upped their price target on Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.25.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Tango Therapeutics in the third quarter valued at $233,000. Bank of New York Mellon Corp raised its stake in shares of Tango Therapeutics by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock valued at $1,742,000 after purchasing an additional 13,418 shares in the last quarter. Strs Ohio raised its stake in shares of Tango Therapeutics by 71.9% in the 3rd quarter. Strs Ohio now owns 23,900 shares of the company’s stock valued at $269,000 after purchasing an additional 10,000 shares in the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of Tango Therapeutics by 22.2% during the third quarter. Clear Harbor Asset Management LLC now owns 20,131 shares of the company’s stock worth $227,000 after purchasing an additional 3,657 shares during the last quarter. Finally, Barclays PLC grew its stake in Tango Therapeutics by 56.2% in the third quarter. Barclays PLC now owns 87,882 shares of the company’s stock worth $990,000 after purchasing an additional 31,618 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

About Tango Therapeutics

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.