Adam Crystal, President of Research & Development at Tango Therapeutics (NASDAQ: TNGX), disposed of 27,000 shares of common stock on April 1, 2026, generating about $572,478. The sales were executed at prices between $21.00 and $21.69 per share, according to a Form 4 filed with the Securities and Exchange Commission.
The Form 4 filing also shows that the transactions included the exercise of stock options to acquire 27,000 shares at an exercise price of $5.20 per share, for a total exercise cost of $140,400. After completing the sale, Crystal directly holds 112,622 shares of Tango Therapeutics.
Company filings indicate the trades were carried out under a Rule 10b5-1 trading arrangement that was adopted on October 27, 2025. The filing does not indicate any additional modifications or conditions beyond the adoption date documented in the Form 4.
Financial context and analyst reactions
Tango Therapeutics reported a net loss of $38.7 million for the fourth quarter of 2025 and a total net loss of $101.6 million for the full year of 2025. Despite those reported losses, several brokerage firms and analysts have recently expressed favorable views on the company’s prospects.
- Stifel retained a Buy rating on the company and raised its price target to $24 from $15, citing encouraging early data and the company’s strategic priorities for 2026, including updates related to a PRMT5 inhibitor and RAS(ON) combinations.
- Jefferies increased its price target to $18 from $14, referencing a supply agreement with ERAS for pan-RAS as a factor in its outlook.
- Mizuho initiated coverage with an outperform rating and set a $19 price target, emphasizing the potential of Tango’s lead precision oncology program, vopimetostat.
Collectively, those analyst moves reflect a continued bullish posture from some corners of the sell-side despite the company’s reported losses for 2025.
What the filings show and what remains unchanged
The SEC Form 4 provides the concrete mechanics of the April 1 transactions: the number of shares sold, the price range per share, the simultaneous exercise of options at $5.20 per share, and the resulting direct shareholding for Crystal. The filing also records that the trades were executed under a Rule 10b5-1 plan adopted on October 27, 2025. Beyond these recorded facts, the filing does not attach commentary on motivation or future transactions.
Meanwhile, public disclosures from Tango Therapeutics include the company’s year-end results for 2025 and the recent analyst commentary and price-target adjustments described above.