Boxer Capital Management, Llc Sells 3,080,000 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total value of $9,671,200.00. Following the sale, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, October 25th, Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $6.87, for a total value of $4,348,710.00.
• On Monday, October 21st, Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX traded down $0.41 during mid-day trading on Thursday, hitting $2.83. 5,167,934 shares of the company were exchanged, compared to its average volume of 1,174,516. Tango Therapeutics, Inc. has a 1-year low of $2.77 and a 1-year high of $13.01. The stock has a 50 day simple moving average of $7.59 and a 200-day simple moving average of $8.31.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.10. The business had revenue of $19.88 million during 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 forecast that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, October 28th. Wedbush raised their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Guggenheim lowered their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group started coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after buying an additional 7,128 shares during the period. SG Americas Securities LLC boosted its position in 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 buying an additional 4,203 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Tango Therapeutics in the first quarter valued at $272,000. Vanguard Group Inc. raised its position in shares of Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the period. 78.99% of the stock is 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.