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Recent Insider Activity Suggests Potential Gains for Tango Therapeutics Inc (TNGX)

Tango Therapeutics Inc’s recently made public that its 10% Owner Third Rock Ventures IV, L.P. unloaded Company’s shares for reported $1.95 million on Feb 20 ’24. In the deal valued at $12.00 per share,162,500 shares were sold. As a result of this transaction, Third Rock Ventures IV, L.P. now holds 19,201,475 shares worth roughly $147.85 million.

Then, Weber Barbara sold 4,457 shares, generating $56,246 in total proceeds. Upon selling the shares at $12.62, the Chief Executive Officer now owns 1,535,167 shares.

Before that, Crystal Adam sold 4,083 shares. Tango Therapeutics Inc shares valued at $51,527 were divested by the insider at a price of $12.62 per share. As a result of the transaction, Crystal Adam now holds 119,478 shares, worth roughly $0.92 million.

Cantor Fitzgerald initiated its Tango Therapeutics Inc [TNGX] rating to an Overweight in a research note published recently. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in mid February with a ‘”an Overweight”‘ rating. B. Riley Securities began covering TNGX with “Buy” recommendation on December 08, 2023. H.C. Wainwright revised its rating on October 20, 2022. It rated TNGX as “a Buy” which previously was an “a Neutral”.

Price Performance Review of TNGX

On Tuesday, Tango Therapeutics Inc [NASDAQ:TNGX] saw its stock fall -2.16% to $7.70. Over the last five days, the stock has lost -0.90%. Tango Therapeutics Inc shares have fallen nearly -22.22% since the year began. Nevertheless, the stocks have risen 126.47% over the past one year. While a 52-week high of $13.03 was reached on 01/25/24, a 52-week low of $2.47 was recorded on 04/19/24. SMA at 50 days reached $8.89, while 200 days put it at $8.60. A total of 0.65 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For TNGX Stock

The 24-hour chart illustrates a support level at 7.58, which if violated will result in even more drops to 7.45. On the upside, there is a resistance level at 7.92. A further resistance level may holdings at 8.14. The Relative Strength Index (RSI) on the 14-day chart is 46.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.36%. Stochastics %K at 72.37% indicates the stock is a holding.

The most recent change occurred on September 20, 2021 when SVB Leerink began covering the stock and recommended ‘”an Outperform”‘ rating along with a $25 price target.

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