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Insider Selling: MVA Investors, LLC, Tango Therapeutics Inc [TNGX] divested 77,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tango Therapeutics Inc shares valued at $529,760 were sold by MVA Investors, LLC on Jun 07 ’24. At $6.88 per share, MVA Investors, LLC sold 77,000 shares. The insider’s holdings dropped to 343,524 shares worth approximately $3.28 million following the completion of this transaction.

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Also, MVA Investors, LLC sold 63,000 shares, netting a total of over 456,120 in proceeds. Following the sale of shares at $7.24 each, the insider now holds 420,524 shares.

Before that, MVA Investors, LLC had sold 60,000 shares from its account. In a trade valued at $456,600, the traded Tango Therapeutics Inc shares for $7.61 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $4.62 million.

As published in their initiating research note from Cantor Fitzgerald on April 04, 2024, Tango Therapeutics Inc [TNGX] has been an Overweight. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid February. As of December 08, 2023, B. Riley Securities has initiated its “Buy” rating for TNGX. Earlier on October 20, 2022, H.C. Wainwright upgraded its rating. Their new recommendation was “a Buy” for TNGX stock which previously was a “a Neutral”.

Analyzing TNGX Stock Performance

During the last five days, there has been a surge of approximately 25.49%. Over the course of the year, Tango Therapeutics Inc shares have dropped approximately -3.54%. Shares of the company reached a 52-week high of $13.01 on 01/25/24 and a 52-week low of $6.46 on 05/30/24. A 50-day SMA is recorded $7.57, while a 200-day SMA reached $9.01. Nevertheless, trading volume fell to 0.74 million shares from 0.98 million shares the previous day.

Support And Resistance Levels for Tango Therapeutics Inc (TNGX)

According to the 24-hour chart, there is a support level at 9.34, which, if violated, would cause prices to drop to 9.13. In the upper region, resistance lies at 9.78. The next price resistance is at 10.01. RSI (Relative Strength Index) is 73.40 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.63, which suggests the price will increase in the coming days. Percent R is at 7.84%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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