Key Points
- Insider Adam Crystal sold 5,000 Tango Therapeutics shares at an average $22.42, worth $112,100, reducing his stake by 4.14% to 115,743 shares.
- Tango and Erasca opened a Phase 1/2 trial combining Tango’s vopimetostat with ERAS-0015 for certain MTAP-deleted cancers, expanding investigation of the drug into RAS-driven cancers.
- Analysts have a consensus “Moderate Buy” rating and $44.62 price target, while Tango’s latest reported quarterly loss of $0.37 per share missed estimates of $0.32.
Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Adam Crystal sold 5,000 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $112,100.00. Following the sale, the insider directly owned 115,743 shares of the company's stock, valued at $2,594,958.06. The trade was a 4.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Adam Crystal also recently made the following trade(s):
- On Thursday, October 1st, Adam Crystal sold 27,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $24.47, for a total transaction of $660,690.00.
Tango Therapeutics Trading Up 0.0%
TNGX stock opened at $23.18 on Thursday. The firm's 50-day moving average price is $23.50 and its two-hundred day moving average price is $22.39. Tango Therapeutics, Inc. has a 12-month low of $7.37 and a 12-month high of $34.39. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -27.27 and a beta of 1.26.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued 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). Equities analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current year.
Tango Therapeutics News Roundup
Here are the key news stories impacting Tango Therapeutics this week:
- Positive Sentiment: Tango and Erasca opened enrollment in a Phase 1/2 study combining Tango’s oral PRMT5 inhibitor vopimetostat with Erasca’s pan-RAS molecular glue ERAS-0015. The trial will evaluate patients with MTAP-deleted pancreatic cancer and MTAP-deleted/RAS-mutant non-small cell lung cancer. The partnership expands investigation of Tango’s drug into RAS-driven cancers, though the announcement did not report results from this specific study. Article
- Neutral Sentiment: CEO Malte Peters is scheduled to participate in a fireside chat at Guggenheim’s Healthcare Innovation Conference on November 10. The event could provide an opportunity for company updates, but no new clinical or financial information was announced. Article
- Negative Sentiment: Two insiders reported selling shares on November 2 at an average price of $22.42. Jessica Newcomb sold 7,031 shares and Adam Crystal sold 5,000; both retained substantial holdings after the transactions. Insider sales can raise concern, although the filings do not explain the reason for the sales. SEC filing for Jessica Newcomb SEC filing for Adam Crystal
Analysts Set New Price Targets
A number of research firms have commented on TNGX. Mizuho upped their price target on Tango Therapeutics from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. William Blair initiated coverage on Tango Therapeutics in a research report on Friday, October 16th. They issued an "outperform" rating on the stock. HC Wainwright reissued a "buy" rating and set a $68.00 target price on shares of Tango Therapeutics in a research note on Thursday, October 29th. Weiss Ratings upgraded Tango Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered Tango Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 27th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.62.
View Our Latest Analysis on TNGX
Institutional Investors Weigh In On Tango Therapeutics
Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Tango Therapeutics by 4.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,734 shares of the company's stock valued at $336,000 after buying an additional 534 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Tango Therapeutics in the third quarter worth about $215,000. Profund Advisors LLC lifted its holdings in Tango Therapeutics by 48.8% in the third quarter. Profund Advisors LLC now owns 62,319 shares of the company's stock worth $1,555,000 after buying an additional 20,430 shares during the period. Vise Technologies Inc. purchased a new stake in Tango Therapeutics in the third quarter worth about $319,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Tango Therapeutics by 28.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 37,165 shares of the company's stock worth $908,000 after buying an additional 8,144 shares during the period. Institutional investors own 78.99% of the company's stock.
About Tango Therapeutics
(
Get Free Report)
Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for cancer. The company uses functional genomics and genetic screening to identify vulnerabilities in tumor cells, including dependencies created by tumor-suppressor gene loss, and to develop targeted therapies designed to selectively attack cancer cells.
Tango's pipeline includes small-molecule programs for genetically defined solid tumors. Its lead program, TNG462, is an MTA-cooperative PRMT5 inhibitor being developed for cancers with MTAP gene deletions.
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