Form 4: Third Rock Ventures Sells Tango Therapeutics Shares in August Transactions

Third Rock Ventures IV, L.P. sold 285,000 shares of Tango Therapeutics (TNGX) common stock in two transactions during August 2024.

Summary

• Third Rock Ventures IV, L.P., a significant shareholder of Tango Therapeutics, Inc. (TNGX), reported the sale of 285,000 shares of common stock in two separate transactions.
• On August 16, 2024, 135,000 shares were sold at a weighted average price of $9.7885 per share, with prices ranging from $9.75 to $9.95.
• On August 19, 2024, an additional 150,000 shares were sold at a weighted average price of $10.0928 per share, with prices ranging from $9.75 to $10.475.
• Following these transactions, Third Rock Ventures IV, L.P. directly holds 17,201,475 shares of Tango Therapeutics common stock.
• Third Rock Ventures GP IV, L.P. and TRV GP IV, LLC, as general partners of Third Rock Ventures IV, L.P., disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting share sales, which is neutral in sentiment. It doesn't contain any explicit positive or negative statements about the company's performance or future prospects.

Industry Context

Sales of shares by major holders like Third Rock Ventures are common and can be for a variety of reasons, including portfolio rebalancing or taking profits. The impact on Tango Therapeutics' stock price will depend on market perception and the overall health of the biotech sector.

Comparison to Industry Standards

• It's common for venture capital firms like Third Rock Ventures to gradually reduce their holdings in portfolio companies after they go public.
• The size and frequency of these sales are typical for venture firms managing large portfolios.
• Comparable companies in the biotech sector often see similar transactions from their early investors.

Stakeholder Impact

• Shareholders may react to the news of Third Rock Ventures selling shares, potentially impacting the stock price.
• The sales could be perceived as a lack of confidence by a major investor, although this is not necessarily the case.

Key Dates