Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $248,530.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 29,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $8.57, for a total value of $248,530.00. Following the completion of the transaction, the insider now owns 314,524 shares of the company’s stock, valued at $2,695,470.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, July 1st, Mva Investors, Llc sold 110,731 shares of Tango Therapeutics stock. The shares were sold at an average price of $8.87, for a total transaction of $982,183.97.
• On Thursday, June 6th, Mva Investors, Llc sold 63,000 shares of Tango Therapeutics stock. The shares were 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 shares were sold at an average price of $7.61, for a total transaction of $456,600.00.
• On Wednesday, May 1st, Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.43, for a total transaction of $557,250.00.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $8.34 on Friday. The stock’s fifty day moving average is $7.89 and its 200-day moving average is $9.26. Tango Therapeutics, Inc. has a 52 week low of $2.88 and a 52 week high of $13.03. The stock has a market capitalization of $891.13 million, a PE ratio of -7.38 and a beta of 0.83.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Tango Therapeutics by 205.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock valued at $4,136,000 after buying an additional 247,234 shares during the period. Invesco Ltd. boosted its holdings in Tango Therapeutics by 3,247.3% in the third quarter. Invesco Ltd. now owns 774,738 shares of the company’s stock valued at $8,724,000 after acquiring an additional 751,593 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tango Therapeutics by 57.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,421 shares of the company’s stock valued at $219,000 after acquiring an additional 7,077 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in 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 worth $19,760,000 after purchasing an additional 564,971 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Tango Therapeutics by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock worth $33,103,000 after purchasing an additional 197,624 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HC Wainwright decreased their price objective on Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating on the stock. Wedbush dropped their price objective on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Barclays lowered their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.17.

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.