Insider Selling: Tango Therapeutics (NASDAQ:TNGX) Insider Sells 7,031 Shares of Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Jessica Newcomb sold 7,031 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $22.42, for a total transaction of $157,635.02. Following the completion of the sale, the insider directly owned 52,090 shares of the company’s stock, valued at $1,167,857.80. This represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Jessica Newcomb also recently made the following trade(s):

• On Tuesday, September 22nd, Jessica Newcomb sold 8,200 shares of Tango Therapeutics stock. The stock was sold at an average price of $24.22, for a total transaction of $198,604.00.

Tango Therapeutics Price Performance

NASDAQ:TNGX traded up $0.01 during trading hours on Wednesday, hitting $23.18. 2,464,255 shares of the stock traded hands, compared to its average volume of 4,639,952. Tango Therapeutics, Inc. has a 1 year low of $7.37 and a 1 year high of $34.39. The stock has a 50 day moving average price of $23.50 and a 200 day moving average price of $22.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). Research analysts expect that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research cut shares of Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. William Blair assumed coverage on Tango Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating for the company. 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 on the stock. Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Tango Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $44.62.

Hedge Funds Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of TNGX. TRV GP IV LLC bought a new position in shares of Tango Therapeutics during the second quarter worth $120,181,383,000. BlackRock Inc. purchased a new position in Tango Therapeutics during the second quarter valued at $388,826,000. Jupiter Topco LLC bought a new stake in Tango Therapeutics in the 2nd quarter valued at $157,989,000. Seven Fleet Capital Management LP increased its holdings in Tango Therapeutics by 302.2% in the 2nd quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after acquiring an additional 2,425,484 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Tango Therapeutics in the 2nd quarter worth $62,849,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

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.