Mizuho Issues Positive Forecast for Tango Therapeutics (NASDAQ:TNGX) Stock Price

Tango Therapeutics (NASDAQ:TNGX) had its price objective lifted by equities research analysts at Mizuho from $20.00 to $30.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 35.52% from the company’s previous close.

Several other research firms have also recently commented on TNGX. HC Wainwright boosted their target price on Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Leerink Partners lifted their price target on shares of Tango Therapeutics from $28.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.27.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $22.14 on Friday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -26.67 and a beta of 1.22. The firm has a 50 day simple moving average of $21.41 and a 200-day simple moving average of $14.20. Tango Therapeutics has a one year low of $1.40 and a one year high of $28.41.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) 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 50.17%. Equities analysts predict that Tango Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the sale, the insider owned 132,873 shares of the company’s stock, valued at approximately $1,696,788.21. This trade represents a 29.03% 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. Over the last quarter, insiders have sold 179,056 shares of company stock worth $3,346,181. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TNGX. Entropy Technologies LP boosted its position in Tango Therapeutics by 39.6% during the 1st quarter. Entropy Technologies LP now owns 20,656 shares of the company’s stock worth $432,000 after purchasing an additional 5,864 shares during the period. State of Wyoming acquired a new stake in Tango Therapeutics in the first quarter valued at approximately $128,000. Dimensional Fund Advisors LP raised its stake in shares of Tango Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock valued at $10,237,000 after purchasing an additional 2,272 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Tango Therapeutics during the first quarter worth $259,000. Finally, Candriam S.C.A. boosted its stake in shares of Tango Therapeutics by 79.1% in the first quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock valued at $26,553,000 after purchasing an additional 560,434 shares during the period. 78.99% of the stock is currently 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.