Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells 110,731 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 110,731 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $8.87, for a total transaction of $982,183.97. Following the completion of the transaction, the insider now owns 203,793 shares of the company’s stock, valued at approximately $1,807,643.91. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, June 28th, Mva Investors, Llc sold 29,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $8.57, for a total transaction of $248,530.00.
• On Thursday, June 6th, Mva Investors, Llc sold 63,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.24, for a total transaction of $456,120.00.
• On Friday, May 3rd, Mva Investors, Llc sold 60,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.61, for a total value of $456,600.00.
• 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 Price Performance

Shares of TNGX stock traded down $0.89 during trading hours on Tuesday, reaching $8.11. 791,896 shares of the company were exchanged, compared to its average volume of 671,885. The company has a market cap of $866.02 million, a price-to-earnings ratio of -7.17 and a beta of 0.83. The stock’s fifty day moving average is $7.86 and its two-hundred day moving average is $9.27. Tango Therapeutics, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The firm had revenue of $6.47 million during the quarter, compared to the consensus estimate of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. On average, research analysts anticipate that Tango Therapeutics, Inc. will post -1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

TNGX has been the topic of several recent analyst reports. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. HC Wainwright reduced their price target on shares of Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. Wedbush dropped their price objective on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Barclays cut their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Cantor Fitzgerald began coverage on Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $14.17.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artal Group S.A. acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at $17,427,000. RTW Investments LP bought a new stake in Tango Therapeutics in the fourth quarter valued at about $19,471,000. Boxer Capital LLC lifted its stake in Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after buying an additional 1,075,000 shares during the period. Invesco Ltd. boosted its holdings in Tango Therapeutics by 3,247.3% during the third quarter. Invesco Ltd. now owns 774,738 shares of the company’s stock worth $8,724,000 after buying an additional 751,593 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Tango Therapeutics by 47.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock worth $19,760,000 after buying an additional 564,971 shares during the period. 78.99% of the stock is owned by 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.