Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average Target Price from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.14.

A number of equities research analysts have weighed in on TNGX shares. B. Riley cut their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th. Guggenheim lowered their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mace Rothenberg bought 10,000 shares of Tango Therapeutics stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $3.62 per share, with a total value of $36,200.00. Following the acquisition, the director now directly owns 21,250 shares of the company’s stock, valued at approximately $76,925. This represents a 88.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 4,338,000 shares of company stock worth $18,426,160. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Tango Therapeutics by 26.8% in the third quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after purchasing an additional 489,949 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Tango Therapeutics in the 2nd quarter valued at approximately $3,836,000. Geode Capital Management LLC lifted its position in Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after buying an additional 142,710 shares in the last quarter. Quarry LP acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $99,000. Finally, Barclays PLC boosted its stake in shares of Tango Therapeutics by 78.3% during the 3rd quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after buying an additional 55,470 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $3.23 on Friday. Tango Therapeutics has a 12-month low of $2.70 and a 12-month high of $13.01. The stock has a market capitalization of $346.96 million, a PE ratio of -2.74 and a beta of 0.81. The firm has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $6.99.

About Tango Therapeutics

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.