Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $456,600.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $7.61, for a total value of $456,600.00. Following the completion of the sale, the insider now directly owns 483,524 shares in the company, valued at $3,679,617.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, May 1st, Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.43, for a total value of $557,250.00.

Tango Therapeutics Stock Up 0.3 %

Shares of NASDAQ TNGX traded up $0.02 during midday trading on Friday, hitting $7.61. The stock had a trading volume of 345,845 shares, compared to its average volume of 637,977. 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 price-to-earnings ratio of -6.92 and a beta of 0.84. The company has a fifty day moving average price of $8.58 and a 200 day moving average price of $9.31.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. On average, research analysts forecast that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Analyst Upgrades and Downgrades

TNGX has been the subject of a number of recent analyst reports. Piper Sandler began coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They set an “overweight” rating and a $18.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a research report on Monday, March 18th. HC Wainwright lifted 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. Finally, Cantor Fitzgerald began coverage on Tango Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $17.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Tango Therapeutics by 205.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock worth $4,136,000 after purchasing an additional 247,234 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Tango Therapeutics in the 3rd quarter valued at about $653,000. FMR LLC raised its holdings in Tango Therapeutics by 12.3% in the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after acquiring an additional 1,276,945 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Tango Therapeutics by 47.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock valued at $19,760,000 after buying an additional 564,971 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Tango Therapeutics by 421.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.