Tango Therapeutics (NASDAQ:TNGX) Sets New 1-Year High – Still a Buy?

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) hit a new 52-week high on Tuesday . The company traded as high as $22.61 and last traded at $22.8050, with a volume of 547364 shares traded. The stock had previously closed at $21.56.

Analyst Upgrades and Downgrades

TNGX has been the subject of several research reports. Piper Sandler increased their target price on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Mizuho upped their price objective on Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Guggenheim raised their price objective on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. Wedbush lifted their target price on shares of Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.67.

Tango Therapeutics Trading Down 0.8%

The firm has a market capitalization of $3.59 billion, a P/E ratio of -28.94 and a beta of 1.31. The company has a 50-day moving average of $16.68 and a 200-day moving average of $11.94.

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

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of the 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 completion of the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $21.20, for a total transaction of $572,400.00. Following the transaction, the insider owned 112,622 shares of the company’s stock, valued at approximately $2,387,586.40. The trade was a 19.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 172,884 shares of company stock worth $2,538,342 over the last ninety days. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP bought a new stake in Tango Therapeutics during the fourth quarter valued at $1,906,000. XTX Topco Ltd acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at about $335,000. VARCOV Co. acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at about $261,000. Virtus Investment Advisers LLC boosted its position in shares of Tango Therapeutics by 26.3% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock valued at $252,000 after purchasing an additional 5,920 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Tango Therapeutics by 27.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after purchasing an additional 14,679 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.