Tango Therapeutics, Inc. (NASDAQ:TNGX) Insider Boxer Capital Management, Llc Sells 625,000 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 625,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the transaction, the insider now directly owns 7,573,642 shares in the company, valued at $53,394,176.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tango Therapeutics Stock Down 5.7 %

NASDAQ TNGX opened at $5.93 on Friday. The firm has a market capitalization of $633.60 million, a P/E ratio of -5.25 and a beta of 0.81. The company has a 50-day moving average price of $8.70 and a 200-day moving average price of $8.46. Tango Therapeutics, Inc. has a 52 week low of $5.83 and a 52 week high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.10. The business had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. As a group, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in Tango Therapeutics during the second quarter valued at about $54,000. Paloma Partners Management Co purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at about $80,000. Principal Financial Group Inc. bought a new position in shares of Tango Therapeutics during the 2nd quarter valued at approximately $90,000. Quarry LP purchased a new stake in Tango Therapeutics in the 2nd quarter worth approximately $99,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after acquiring an additional 1,426 shares during the period. 78.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TNGX shares. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Wedbush boosted their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.14.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.