Rock Ventures Iv L.P. Third Sells 40,000 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) 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.

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

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.

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.