Tango Therapeutics (NASDAQ:TNGX) Shares Down 7%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price fell 7% during trading on Thursday . The stock traded as low as $7.18 and last traded at $7.22. 178,537 shares were traded during mid-day trading, a decline of 72% from the average session volume of 643,188 shares. The stock had previously closed at $7.76.

Analysts Set New Price Targets

Several brokerages recently commented on TNGX. HC Wainwright increased their price objective on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler assumed coverage on shares of Tango Therapeutics in a research note on Monday, February 12th. They issued an “overweight” rating and a $18.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Tango Therapeutics in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.25.

Tango Therapeutics Stock Performance

The company’s 50-day moving average price is $8.98 and its two-hundred day moving average price is $9.33.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. The firm had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. Research analysts anticipate that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the sale, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the sale, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the completion of the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The disclosure for this sale can be found here. Insiders sold a total of 174,731 shares of company stock worth $2,103,703 over the last three months. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Tango Therapeutics by 12.3% in the third quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after buying an additional 1,276,945 shares in the last quarter. Boxer Capital LLC lifted its stake in shares of Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after buying an additional 1,075,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tango Therapeutics by 7.2% in the third quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock valued at $33,103,000 after buying an additional 197,624 shares in the last quarter. RTW Investments LP bought a new position in shares of Tango Therapeutics in the fourth quarter valued at $19,471,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Tango Therapeutics by 47.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock valued at $19,760,000 after buying an additional 564,971 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

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.