Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells $693,985.65 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the transaction, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. This represents a 29.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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

NASDAQ TNGX opened at $11.14 on Monday. The company has a market cap of $1.50 billion, a PE ratio of -11.98 and a beta of 1.76. The firm’s 50 day moving average price is $11.35 and its 200-day moving average price is $9.24. Tango Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $13.60.

Institutional Investors Weigh In On Tango Therapeutics

A number of large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Caligan Partners LP acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at about $33,047,000. Goldman Sachs Group Inc. raised its stake in shares of Tango Therapeutics by 227.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after purchasing an additional 3,432,939 shares during the last quarter. Logos Global Management LP lifted its holdings in shares of Tango Therapeutics by 342.1% during the fourth quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after purchasing an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Tango Therapeutics in the third quarter valued at approximately $25,924,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TNGX has been the subject of a number of analyst reports. B. Riley Financial upped their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Mizuho assumed coverage on shares of Tango Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $19.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

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.