Tango Therapeutics (NASDAQ:TNGX) Given New $27.00 Price Target at HC Wainwright

Tango Therapeutics (NASDAQ:TNGX) had its price target boosted by equities researchers at HC Wainwright from $13.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 60.71% from the company’s current price.

A number of other analysts have also weighed in on TNGX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Mizuho initiated coverage on Tango Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $19.00 target price for the company. Stifel Nicolaus began coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target on the stock. B. Riley Financial lifted their target price on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Wolfe Research assumed coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Tango Therapeutics Stock Up 36.0%

Shares of NASDAQ TNGX opened at $16.80 on Friday. Tango Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $16.97. The firm’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $9.37. The stock has a market cap of $2.26 billion, a P/E ratio of -18.06 and a beta of 1.76.

Insider Transactions at Tango Therapeutics

In other news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares in the company, valued at $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara Weber sold 30,519 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,633 shares of company stock valued at $1,420,857 over the last ninety days. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of hedge funds have recently made changes to their positions in TNGX. Vivo Capital LLC purchased a new stake in Tango Therapeutics in the 2nd quarter worth approximately $3,072,000. Geode Capital Management LLC increased its stake in shares of Tango Therapeutics by 27.9% in the second quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock worth $9,058,000 after acquiring an additional 385,476 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Tango Therapeutics during the third quarter worth $3,560,000. Candriam S.C.A. acquired a new stake in Tango Therapeutics during the second quarter valued at $3,629,000. Finally, Stempoint Capital LP purchased a new position in Tango Therapeutics in the second quarter valued at about $1,069,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Company Profile

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.