Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tango Therapeutics Inc shares valued at $709,756 were sold by Third Rock Ventures IV, L.P. on Sep 13 ’24. At $10.53 per share, Third Rock Ventures IV, L.P. sold 67,400 shares. The insider’s holdings dropped to 16,859,075 shares worth approximately $139.59 million following the completion of this transaction.
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Also, Third Rock Ventures IV, L.P. purchased 67,400 shares, netting a total of over 707,700 in proceeds.
Before that, Third Rock Ventures IV, L.P. had sold 75,000 shares from its account. In a trade valued at $867,135, the 10% Owner traded Tango Therapeutics Inc shares for $11.56 each. Upon closing the transaction, the insider’s holdings decreased to 75,000 shares, worth approximately $140.15 million.
As published in their initiating research note from Jefferies on July 17, 2024, Tango Therapeutics Inc [TNGX] has been a Buy and the price target has been revised to $19. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of February 12, 2024, Piper Sandler has initiated its “an Overweight” rating for TNGX. Earlier on December 08, 2023, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for TNGX stock.
Analyzing TNGX Stock Performance
During the last five days, there has been a drop of approximately -14.55%. Over the course of the year, Tango Therapeutics Inc shares have dropped approximately -16.36%. 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 $9.93, while a 200-day SMA reached $9.40. Nevertheless, trading volume fell to 1.24 million shares from 2.01 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 8.04, which, if violated, would cause prices to drop to 7.79. In the upper region, resistance lies at 8.75. The next price resistance is at 9.22. RSI (Relative Strength Index) is 38.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.32, which suggests the price will decrease in the coming days. Percent R is at 93.69%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Tango Therapeutics Inc (TNGX)?
On October 20, 2022, H.C. Wainwright assigned a price target of “a Buy” to the stock and upgraded coverage with a $10.
