Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Rating of “Moderate Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $38.4167.

A number of analysts recently weighed in on the stock. Wedbush increased their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. HC Wainwright increased their price target on shares of Tango Therapeutics from $27.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Wolfe Research set a $35.00 target price on shares of Tango Therapeutics and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Guggenheim raised their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.87, for a total value of $617,490.00. Following the completion of the sale, the insider owned 115,743 shares in the company, valued at approximately $2,647,042.41. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 131,460 shares of company stock valued at $2,965,920. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Tango Therapeutics

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $35,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after acquiring an additional 4,464 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $40,000. State of Wyoming acquired a new stake in shares of Tango Therapeutics in the 1st quarter worth $128,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tango Therapeutics by 52.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after acquiring an additional 2,243 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $30.94 on Friday. The stock has a market cap of $4.48 billion, a P/E ratio of -37.28 and a beta of 1.19. The firm has a fifty day moving average price of $23.46 and a 200 day moving average price of $16.37. Tango Therapeutics has a 1-year low of $4.40 and a 1-year high of $32.79.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. Sell-side analysts expect that Tango Therapeutics will post -1.28 EPS for the current fiscal year.

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.