Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Sells $22,221.68 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Adam Crystal sold 7,432 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $22,221.68. Following the transaction, the insider now owns 165,061 shares in the company, valued at $493,532.39. This represents a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Tango Therapeutics Stock Down 7.1 %

Shares of Tango Therapeutics stock opened at $3.03 on Friday. The firm has a market cap of $325.48 million, a price-to-earnings ratio of -2.57 and a beta of 0.80. Tango Therapeutics, Inc. has a 52-week low of $2.59 and a 52-week high of $12.80. The company’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $6.10.

Wall Street Analysts Forecast Growth

TNGX has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Guggenheim dropped their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, B. Riley lowered their price target on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $13.14.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TNGX. State Street Corp lifted its holdings in shares of Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after buying an additional 489,949 shares during the period. Geode Capital Management LLC raised its position in Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after acquiring an additional 142,710 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tango Therapeutics by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company’s stock valued at $1,586,000 after acquiring an additional 26,192 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Tango Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after purchasing an additional 100,257 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Tango Therapeutics by 9.0% in the fourth quarter. Congress Asset Management Co. now owns 227,989 shares of the company’s stock valued at $704,000 after purchasing an additional 18,919 shares during the period. Hedge funds and other institutional investors 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.