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BOSTON—Barbara Weber, the Chief Executive Officer of Tango Therapeutics, Inc. (NASDAQ:TNGX), a $350 million market cap biotech company, recently sold a portion of her holdings in the company. According to InvestingPro data, the stock has shown strong momentum with a 9.4% gain over the past week. On February 4 and 5, Weber sold a total of 18,791 shares of common stock, amounting to approximately $57,710. The shares were sold at prices ranging from $2.988 to $3.1614 per share.
These transactions were carried out under a "sell-to-cover" policy, which automatically sells shares to cover tax obligations related to the vesting of restricted stock units. Following these sales, Weber retains direct ownership of 1,622,251 shares in the company.
In other recent news, Piper Sandler has expressed a positive outlook on the biopharmaceutical sector for the year 2025, despite prevailing macroeconomic challenges. The firm emphasized the potential for significant growth, citing robust merger and acquisition activity, along with the presence of numerous undervalued biotech companies. Notably, the firm underscored the performance of argenx, which has seen a surge in its stock value, driven by the successful launch of its product Vyvgart for treating chronic inflammatory demyelinating polyneuropathy. The firm also highlighted Neurocrine (NASDAQ:NBIX) Biosciences for its favorable risk/reward profile, credited to the expansion of Ingrezza’s market reach and the recent FDA approval of Crenessity. These developments indicate that the biopharma sector is poised for a stock picker’s market, with a focus on companies with strong fundamental drivers.
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