Boxer Capital Management, Llc Sells 625,000 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00. Following the transaction, the insider now owns 7,573,642 shares in the company, valued at approximately $53,394,176.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tango Therapeutics Stock Down 5.6 %

NASDAQ TNGX traded down $0.37 on Wednesday, reaching $6.27. The stock had a trading volume of 881,138 shares, compared to its average volume of 762,270. The stock has a fifty day moving average price of $8.85 and a two-hundred day moving average price of $8.49. Tango Therapeutics, Inc. has a 12-month low of $6.12 and a 12-month high of $13.01. The firm has a market capitalization of $669.92 million, a price-to-earnings ratio of -5.55 and a beta of 0.81.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data 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. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The firm had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. Sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on TNGX. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Jefferies Financial Group initiated coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Finally, Wedbush upped their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.14.

Institutional Trading of Tango Therapeutics

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Tango Therapeutics by 110.8% in the fourth quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock valued at $1,685,000 after purchasing an additional 89,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Tango Therapeutics by 32.6% in 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 grew its stake in shares of Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after acquiring an additional 4,203 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tango Therapeutics during the first quarter worth $272,000. Finally, Vanguard Group Inc. increased its position in shares of Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after acquiring an additional 101,673 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.