Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells 60,000 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Mva Investors, Llc sold 60,000 shares of Tango Therapeutics stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $7.61, for a total value of $456,600.00. Following the sale, the insider now owns 483,524 shares of the company’s stock, valued at $3,679,617.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 1st, Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.43, for a total transaction of $557,250.00.

Tango Therapeutics Trading Up 0.3 %

NASDAQ TNGX opened at $7.61 on Friday. The company has a market cap of $812.29 million, a P/E ratio of -6.92 and a beta of 0.84. Tango Therapeutics, Inc. has a 1 year low of $2.47 and a 1 year high of $13.03. The company has a fifty day simple moving average of $8.58 and a 200 day simple moving average of $9.31.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. Equities research analysts forecast that Tango Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TNGX shares. Piper Sandler started coverage on shares of Tango Therapeutics in a research note on Monday, February 12th. They set an “overweight” rating and a $18.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating on the stock. Wedbush restated an “outperform” rating and set a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Finally, HC Wainwright upped their price target on Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $17.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Tango Therapeutics in the third quarter valued at approximately $233,000. Bank of New York Mellon Corp increased its holdings in shares of Tango Therapeutics by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock worth $1,742,000 after purchasing an additional 13,418 shares during the period. Strs Ohio lifted its stake in shares of Tango Therapeutics by 71.9% in the third quarter. Strs Ohio now owns 23,900 shares of the company’s stock valued at $269,000 after buying an additional 10,000 shares during the period. Clear Harbor Asset Management LLC increased its stake in Tango Therapeutics by 22.2% during the third quarter. Clear Harbor Asset Management LLC now owns 20,131 shares of the company’s stock valued at $227,000 after acquiring an additional 3,657 shares during the period. Finally, Barclays PLC lifted its position in shares of Tango Therapeutics by 56.2% in the 3rd quarter. Barclays PLC now owns 87,882 shares of the company’s stock worth $990,000 after acquiring an additional 31,618 shares during the period. 78.99% of the stock is owned by institutional investors.

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.