Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $32.27 Average Price Target from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.2727.

Several equities analysts have issued reports on TNGX shares. Mizuho increased their price objective on shares of Tango Therapeutics from $20.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $16.00 to $24.00 in a report on Thursday, May 14th. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st.

Tango Therapeutics Stock Down 1.0%

TNGX opened at $20.04 on Wednesday. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -24.14 and a beta of 1.22. Tango Therapeutics has a 52-week low of $1.90 and a 52-week high of $28.41. The firm’s fifty day simple moving average is $22.09 and its two-hundred day simple moving average is $14.91.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. On average, research analysts forecast that Tango Therapeutics will post -1.34 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $21.23, for a total transaction of $573,210.00. Following the transaction, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,457,223.89. The trade was a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 124,711 shares of company stock worth $2,652,195. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after acquiring an additional 1,640 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Tango Therapeutics by 26.7% during the 4th quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock valued at $87,000 after acquiring an additional 2,065 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tango Therapeutics by 52.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock valued at $58,000 after acquiring an additional 2,243 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tango Therapeutics by 10.2% during the 1st quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock valued at $507,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Tango Therapeutics by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock valued at $10,237,000 after acquiring an additional 2,272 shares during the last quarter. 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.