Barbara Weber Sells 30,519 Shares of Tango Therapeutics (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the transaction, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tango Therapeutics Stock Down 1.8%

TNGX stock traded down $0.23 during midday trading on Wednesday, reaching $12.32. 2,214,304 shares of the company’s stock traded hands, compared to its average volume of 3,307,130. The company has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $8.52. Tango Therapeutics, Inc. has a 1-year low of $1.03 and a 1-year high of $13.46. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -13.25 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. The company had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%. Equities research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TNGX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Piper Sandler upped their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Guggenheim increased their price objective on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Wolfe Research began coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Tango Therapeutics in the 4th quarter valued at about $195,000. UBS Group AG grew its holdings in Tango Therapeutics by 517.2% during the fourth quarter. UBS Group AG now owns 990,458 shares of the company’s stock valued at $8,775,000 after purchasing an additional 829,980 shares during the period. Vanguard Group Inc. increased its stake in Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after purchasing an additional 1,698,974 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Tango Therapeutics by 12.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock worth $194,000 after purchasing an additional 2,444 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of Tango Therapeutics during the fourth quarter worth $109,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.