Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $9,671,200.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the sale, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was 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 Stock Performance

Shares of TNGX traded down $0.41 during trading hours 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 one year low of $2.77 and a one year high of $13.01. The firm has a fifty day simple moving average of $7.59 and a 200-day simple moving average of $8.31.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) 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 during the quarter, compared to the consensus estimate of $7.39 million. As a group, equities analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently made changes to their positions in TNGX. Quest Partners LLC lifted its position in Tango Therapeutics by 1,448.4% in the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after acquiring an additional 10,182 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Tango Therapeutics in the third quarter worth approximately $349,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Tango Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $159,000 after buying an additional 8,055 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Tango Therapeutics in the 3rd quarter valued at about $151,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $54,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TNGX shares. Guggenheim reduced their price target on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Monday, October 28th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Wedbush upped their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.29.

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.