Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report) major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00. Following the sale, the insider now directly owns 17,486,475 shares in the company, valued at $171,367,455. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Rock Ventures Iv L.P. Third also recently made the following trade(s):
- On Tuesday, July 30th, Rock Ventures Iv L.P. Third 95,000 shares of Tango Therapeutics stock.
- On Wednesday, July 24th, Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.82, for a total transaction of $1,964,000.00.
- On Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.78, for a total transaction of $2,569,597.20.
- On Wednesday, July 17th, Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09.
Tango Therapeutics Price Performance
NASDAQ TNGX traded down $0.40 on Thursday, hitting $9.45. 850,251 shares of the company were exchanged, compared to its average volume of 689,751. The company’s 50 day moving average price is $8.66 and its 200-day moving average price is $9.21. The firm has a market capitalization of $1.01 billion, a P/E ratio of -8.83 and a beta of 0.83. Tango Therapeutics, Inc. has a twelve month low of $3.10 and a twelve month high of $13.03.
Analyst Upgrades and Downgrades
TNGX has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Jefferies Financial Group started coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target for the company. Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Wedbush decreased their price objective on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.86.
Read Our Latest Report on Tango Therapeutics
Hedge Funds Weigh In On Tango Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new position in Tango Therapeutics during the 2nd quarter valued at about $90,000. Bank of New York Mellon Corp grew its stake in shares of Tango Therapeutics by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,623 shares of the company’s stock valued at $1,215,000 after buying an additional 15,373 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of Tango Therapeutics by 59.6% in the 2nd quarter. Simplicity Wealth LLC now owns 43,041 shares of the company’s stock valued at $369,000 after buying an additional 16,080 shares in the last quarter. Artal Group S.A. bought a new stake in shares of Tango Therapeutics in the 1st quarter valued at approximately $17,427,000. Finally, Paloma Partners Management Co bought a new stake in Tango Therapeutics during the first quarter worth approximately $80,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.
About Tango Therapeutics
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.
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