Key Points
- Insider sale: Director Adam Crystal sold 54,345 shares on Feb. 25 at an average price of $12.77 for about $693,986, cutting his position by 29.03% to 132,873 shares.
- Heavy institutional ownership: About 78.99% of TNGX is held by institutions, with large Q4 increases from Farallon, Adage, Siren, Vanguard and State Street.
- Analyst sentiment positive: The consensus is a "Moderate Buy" with a $15.50 target, and recent upgrades/coverage include Mizuho (outperform, $19 PT) and Piper Sandler (overweight, $14 TP).
Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 54,345 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the transaction, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Adam Crystal also recently made the following trade(s):
- On Tuesday, February 3rd, Adam Crystal sold 18,452 shares of Tango Therapeutics stock. The shares were sold at an average price of $12.26, for a total transaction of $226,221.52.
Tango Therapeutics Stock Down 2.3%
Shares of TNGX opened at $11.14 on Friday. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $13.60. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -11.98 and a beta of 1.75. The stock's 50-day moving average price is $11.35 and its 200 day moving average price is $9.20.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Farallon Capital Management LLC increased its stake in shares of Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company's stock worth $115,724,000 after purchasing an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company's stock valued at $93,986,000 after buying an additional 8,096,924 shares in the last quarter. Siren L.L.C. grew its position in shares of Tango Therapeutics by 38.8% during the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company's stock worth $72,345,000 after purchasing an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock valued at $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Finally, State Street Corp raised its stake in Tango Therapeutics by 84.8% in the fourth quarter. State Street Corp now owns 6,218,567 shares of the company's stock valued at $55,097,000 after purchasing an additional 2,853,362 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on TNGX. Mizuho began coverage on Tango Therapeutics in a research report on Monday, February 23rd. They issued an "outperform" rating and a $19.00 price target on the stock. Wall Street Zen upgraded shares of Tango Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Piper Sandler upped their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Wolfe Research initiated coverage on Tango Therapeutics in a research note on Tuesday, November 18th. They issued a "peer perform" rating on the stock. Finally, Stifel Nicolaus started coverage on shares of Tango Therapeutics in a report on Wednesday, December 3rd. They set a "buy" rating and a $15.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.
Check Out Our Latest Analysis on TNGX
About Tango Therapeutics
(
Get Free Report)
Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.
The company's lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
