Tango Therapeutics (NASDAQ:TNGX) Stock Price Expected to Rise, Guggenheim Analyst Says

Tango Therapeutics (NASDAQ:TNGX) had its price target upped by research analysts at Guggenheim from $12.00 to $18.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 42.02% from the company’s previous close.

Several other equities analysts have also recently weighed in on TNGX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus started coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Finally, Piper Sandler boosted their price target on shares of Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.80.

Tango Therapeutics Price Performance

Shares of TNGX traded up $0.72 during trading hours on Friday, hitting $12.67. The stock had a trading volume of 317,409 shares, compared to its average volume of 3,030,407. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $13.46. The firm has a market capitalization of $1.71 billion, a P/E ratio of -13.60 and a beta of 1.75. The firm has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $8.55.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The firm had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. Equities analysts predict that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at $2,259,481.22. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 59,288 shares of company stock valued at $726,871. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TNGX. Legal & General Group Plc increased its stake in Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after acquiring an additional 1,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Tango Therapeutics by 12.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock valued at $194,000 after acquiring an additional 2,444 shares during the period. Tower Research Capital LLC TRC lifted its position in Tango Therapeutics by 44.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares during the last quarter. Finally, CWM LLC grew its holdings in Tango Therapeutics by 182.2% in the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after acquiring an additional 3,167 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.