Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Rock Ventures Iv L.P. Third Sells 200,000 Shares

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total value of $1,964,000.00. Following the completion of the transaction, the insider now directly owns 17,872,074 shares in the company, valued at approximately $175,503,766.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rock Ventures Iv L.P. Third also recently made the following trade(s):

• On Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The shares were 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 stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09.

Tango Therapeutics Price Performance

TNGX opened at $9.75 on Monday. Tango Therapeutics, Inc. has a 1-year low of $2.88 and a 1-year high of $13.03. The stock has a market cap of $1.04 billion, a P/E ratio of -8.63 and a beta of 0.83. The stock’s 50 day simple moving average is $8.53 and its 200 day simple moving average is $9.22.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The firm had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $7.13 million. Research analysts expect that Tango Therapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently added to or reduced their stakes in the business. AJOVista LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $61,000. Paloma Partners Management Co purchased a new stake in Tango Therapeutics in the 1st quarter valued at approximately $80,000. Cowen AND Company LLC acquired a new stake in Tango Therapeutics during the 4th quarter valued at $99,000. Price T Rowe Associates Inc. MD increased its position in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Tango Therapeutics by 421.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock worth $117,000 after acquiring an additional 9,530 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TNGX has been the topic of several analyst reports. Wedbush lowered their target price on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Jefferies Financial Group assumed coverage on Tango Therapeutics in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.86.

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.