Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Sells $288,750.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of Tango Therapeutics stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the transaction, the insider now directly owns 17,176,475 shares of the company’s stock, valued at $198,388,286.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Rock Ventures Iv L.P. Third also recently made the following trade(s):

• On Monday, August 19th, Rock Ventures Iv L.P. Third sold 150,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $10.09, for a total transaction of $1,513,500.00.
• On Friday, August 16th, Rock Ventures Iv L.P. Third sold 135,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00.
• On Thursday, August 1st, Rock Ventures Iv L.P. Third sold 40,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.80, for a total transaction of $392,000.00.
• On Wednesday, July 24th, Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.82, for a total value of $1,964,000.00.
• On Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.78, for a total value of $2,569,597.20.
• On Wednesday, July 17th, Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.79, for a total value of $5,386,174.09.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $11.83 on Friday. The firm’s fifty day moving average price is $9.67 and its 200 day moving average price is $8.92. Tango Therapeutics, Inc. has a 12 month low of $5.15 and a 12 month high of $13.03. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.47 and a beta of 0.83.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The company had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. As a group, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boxer Capital LLC boosted its holdings in shares of 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 acquiring an additional 1,075,000 shares during the period. Mass General Brigham Inc purchased a new position in Tango Therapeutics during the 1st quarter worth $2,812,000. Fisher Asset Management LLC acquired a new position in Tango Therapeutics in the fourth quarter valued at $997,000. Victory Capital Management Inc. purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $719,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth about $136,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Wedbush boosted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, Barclays cut their price target on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tango Therapeutics currently has a consensus rating of “Buy” and an average price target of $15.14.

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.