Key Points
- Insider sale: Adam Crystal sold 27,000 Tango Therapeutics shares for approximately $660,690, reducing his direct ownership by 18.92% to 115,743 shares.
- Financial performance: Tango opened at $23.08 with a market capitalization of $3.89 billion and recently reported a quarterly loss of $0.37 per share, missing the $0.32 consensus estimate.
- Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of $43.46 versus the current share price; institutional investors own nearly 79% of the stock.
Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total transaction of $660,690.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at $2,832,231.21. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Tango Therapeutics Stock Down 0.7%
NASDAQ TNGX opened at $23.08 on Tuesday. The firm has a market cap of $3.89 billion, a P/E ratio of -27.15 and a beta of 1.17. Tango Therapeutics, Inc. has a 52-week low of $6.69 and a 52-week high of $34.39. The business's 50-day moving average price is $24.77 and its 200 day moving average price is $24.95.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, analysts anticipate that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current year.
Institutional Trading of Tango Therapeutics
Institutional investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in Tango Therapeutics in the second quarter valued at $1,731,000. Allworth Financial LP increased its holdings in shares of Tango Therapeutics by 100.9% in the 2nd quarter. Allworth Financial LP now owns 1,131 shares of the company's stock valued at $35,000 after purchasing an additional 568 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Tango Therapeutics by 110.9% in the second quarter. Arizona State Retirement System now owns 25,785 shares of the company's stock valued at $806,000 after purchasing an additional 13,561 shares during the period. Nykredit A S purchased a new stake in Tango Therapeutics during the second quarter worth about $26,000. Finally, Allianz Asset Management GmbH purchased a new stake in Tango Therapeutics during the second quarter worth about $656,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on TNGX shares. JPMorgan Chase & Co. started coverage on Tango Therapeutics in a report on Wednesday, July 15th. They set an "overweight" rating and a $46.00 price target for the company. Raymond James Financial cut shares of Tango Therapeutics to a "hold" rating in a research note on Thursday, June 25th. Wall Street Zen downgraded shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. B. Riley Financial reaffirmed a "buy" rating on shares of Tango Therapeutics in a report on Monday, June 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tango Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $43.46.
Read Our Latest Stock Report on TNGX
Tango Therapeutics Company Profile
(
Get Free Report)
Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities and activate the immune system against tumors. The company uses functional genomics, including CRISPR-based screening, to identify genetic dependencies that may be selectively targeted in cancer cells while limiting effects on healthy tissue.
Tango's research and development programs include small-molecule therapies and immuno-oncology candidates designed to address genetically defined cancers.
Further Reading
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