Tango Therapeutics (NASDAQ:TNGX) Shares Gap Up – Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) gapped up before the market opened on Monday . The stock had previously closed at $19.95, but opened at $21.00. Tango Therapeutics shares last traded at $20.3840, with a volume of 834,114 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $18.00 price objective on shares of Tango Therapeutics in a report on Thursday, March 5th. Stifel Nicolaus upped their price target on shares of Tango Therapeutics from $15.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 9th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a report on Friday, March 27th. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Canaccord Genuity Group assumed coverage on shares of Tango Therapeutics in a report on Thursday, April 2nd. They issued a “buy” rating and a $30.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Tango Therapeutics Stock Up 4.4%

The company has a market cap of $2.97 billion, a price-to-earnings ratio of -23.88 and a beta of 1.31. The company’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $11.64.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam Crystal sold 54,345 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the sale, the insider owned 132,873 shares of the company’s stock, valued at $1,696,788.21. The trade was a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director directly owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 172,884 shares of company stock worth $2,538,342 over the last quarter. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in shares of Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Tango Therapeutics by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock worth $87,000 after purchasing an additional 2,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 purchasing an additional 2,243 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Tango Therapeutics by 12.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock worth $194,000 after purchasing an additional 2,444 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Tango Therapeutics by 0.7% in the fourth quarter. Barclays PLC now owns 368,187 shares of the company’s stock worth $3,262,000 after purchasing an additional 2,507 shares in the last quarter. 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.