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BOSTON—Crystal Adam, President of Research & Development at Tango Therapeutics, Inc. (NASDAQ:TNGX), recently sold a total of 14,283 shares of common stock in two separate transactions. The sales, filed with the Securities and Exchange Commission, were conducted on February 4 and February 5, 2025.
The first transaction involved the sale of 7,432 shares at a weighted average price of approximately $2.988 per share, with prices ranging between $2.86 and $3.07. The second transaction included the sale of 6,851 shares at a weighted average price of approximately $3.1614 per share, with prices ranging from $3.00 to $3.245. The total value of these sales amounts to $43,865. According to InvestingPro, the stock has shown significant volatility, with a 9.4% gain in the past week despite a 62.6% decline over six months.
These sales were part of a "sell-to-cover" policy adopted by the company to satisfy tax withholding obligations related to the vesting of restricted stock units. As a result, the transactions were automatic and not at the discretion of Crystal Adam. After these transactions, Adam holds 158,210 shares of Tango Therapeutics. The company maintains a strong balance sheet with more cash than debt, according to InvestingPro, which offers 11 additional key insights about TNGX’s financial health and growth prospects.
In other recent news, Piper Sandler has expressed an optimistic outlook on the biopharmaceutical sector for 2025, despite current macroeconomic challenges. The firm anticipates robust merger and acquisition activity, as well as significant potential among undervalued biotech companies, particularly in the small- to mid-cap range.
Argenx (NASDAQ:ARGX), which saw a 63% increase in stock value in 2024, is a standout performer, bolstered 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, owing to the market expansion of Ingrezza and the recent FDA approval of Crenessity.
These recent developments underscore Piper Sandler’s strategy of looking beyond short-term economic challenges to identify long-term value in the biopharma industry. The firm’s focus on companies with fundamental drivers, such as argenx’s CIDP and gMG treatments, as well as Neurocrine Biosciences’ Ingrezza for tardive dyskinesia and Crenessity for congenital adrenal hyperplasia, further emphasizes this approach.
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