Boxer Capital Management, Llc Sells 633,000 Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) insider Boxer Capital Management, Llc sold 633,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the completion of the sale, the insider now directly owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Boxer Capital Management, Llc also recently made the following trade(s):

• On Monday, October 21st, Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00.

Tango Therapeutics Stock Up 1.4 %

Shares of NASDAQ TNGX opened at $6.00 on Wednesday. The firm has a market cap of $641.08 million, a PE ratio of -5.31 and a beta of 0.81. The company’s fifty day simple moving average is $8.51 and its 200 day simple moving average is $8.45. Tango Therapeutics, Inc. has a 12-month low of $5.62 and a 12-month high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.10. The firm had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. On average, equities analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 1,426 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Tango Therapeutics by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after buying an additional 2,218 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after buying an additional 4,203 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics during the second quarter valued at about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tango Therapeutics by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock worth $230,000 after acquiring an additional 7,128 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Wedbush boosted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tango Therapeutics has a consensus rating of “Buy” and a consensus target price 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.