Mva Investors, Llc Sells 29,000 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 29,000 shares of the firm’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 sale, the insider now directly owns 314,524 shares in the company, valued at approximately $2,695,470.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 value 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 value 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 value 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 value of $557,250.00.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $8.34 on Thursday. The firm has a market cap of $891.10 million, a PE ratio of -7.38 and a beta of 0.83. Tango Therapeutics, Inc. has a 52-week low of $2.88 and a 52-week high of $13.03. The business’s 50 day moving average price is $7.87 and its two-hundred day moving average price is $9.26.

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

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently made changes to their positions in TNGX. Artal Group S.A. acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at about $17,427,000. RTW Investments LP acquired a new stake in Tango Therapeutics in the fourth quarter valued at approximately $19,471,000. Boxer Capital LLC increased its holdings in shares of Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after acquiring an additional 1,075,000 shares in the last quarter. Invesco Ltd. raised its position in shares of 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 purchasing an additional 751,593 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Tango Therapeutics by 47.5% in 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 purchasing an additional 564,971 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. HC Wainwright cut their target price 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 report on Thursday, April 4th. They set an “overweight” rating on the stock. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Barclays cut their target price on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Finally, Wedbush cut their target price on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average 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.