Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock Has Average Price Target of $43.46 According to Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.46.

Several equities analysts recently weighed in on the stock. Mizuho increased their price target on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $60.00 in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Guggenheim raised their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, B. Riley Financial reissued a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $24.30 on Tuesday. The business’s 50-day simple moving average is $25.13 and its two-hundred day simple moving average is $24.73. The company has a market cap of $4.10 billion, a PE ratio of -28.59 and a beta of 1.12. Tango Therapeutics has a fifty-two week low of $6.69 and a fifty-two week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, analysts predict that Tango Therapeutics will post -1.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Jessica Newcomb sold 8,200 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the sale, the insider owned 59,121 shares in the company, valued at $1,431,910.62. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its position in shares of Tango Therapeutics by 100.9% during the 2nd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after buying an additional 568 shares in the last quarter. Nykredit A S purchased a new stake in Tango Therapeutics in the 2nd quarter worth $26,000. SG Americas Securities LLC increased its holdings in Tango Therapeutics by 10.2% in the 1st quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock worth $507,000 after acquiring an additional 2,251 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tango Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock worth $10,237,000 after acquiring an additional 2,272 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Tango Therapeutics during the second quarter worth $122,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango’s research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.