Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Recommendation of “Buy” from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.14.

A number of research analysts recently issued reports on TNGX shares. Jefferies Financial Group started coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Barclays dropped their price objective on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. HC Wainwright reissued a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Wedbush boosted their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

Insider Activity at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the transaction, the insider now directly owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.87, for a total value of $982,183.97. Following the sale, the insider now directly owns 203,793 shares in the company, valued at approximately $1,807,643.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The disclosure for this sale can be found here. Insiders have sold 1,677,642 shares of company stock worth $16,696,385 over the last quarter. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TNGX. Artal Group S.A. acquired a new stake in shares of Tango Therapeutics during the first quarter worth $17,427,000. RTW Investments LP acquired a new stake in Tango Therapeutics during the 4th quarter worth about $19,471,000. Boxer Capital LLC lifted its stake in Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after buying an additional 1,075,000 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tango Therapeutics in the second quarter worth about $3,836,000. Finally, Mass General Brigham Inc purchased a new position in shares of Tango Therapeutics in the first quarter worth approximately $2,812,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $10.89 on Friday. Tango Therapeutics has a 1 year low of $5.15 and a 1 year high of $13.03. The firm’s 50-day moving average is $9.88 and its 200-day moving average is $8.90. The company has a market cap of $1.16 billion, a P/E ratio of -9.64 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. As a group, sell-side analysts predict that Tango Therapeutics will post -1.31 earnings per share for the current year.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.