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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $13.14.

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

Insider Activity

In related news, Director Mace Rothenberg acquired 10,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now directly owns 21,250 shares in the company, valued at approximately $76,925. This trade represents a 88.89 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $218,000. Congress Asset Management Co. grew its holdings in shares of Tango Therapeutics by 9.0% during the fourth quarter. Congress Asset Management Co. now owns 227,989 shares of the company’s stock worth $704,000 after purchasing an additional 18,919 shares during the last quarter. Catalina Capital Group LLC acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $82,000. Barclays PLC raised its holdings in Tango Therapeutics by 78.3% in 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 last quarter. Finally, Geode Capital Management LLC boosted its position in Tango Therapeutics by 11.6% during 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 during the period. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

TNGX stock opened at $3.04 on Wednesday. Tango Therapeutics has a fifty-two week low of $2.59 and a fifty-two week high of $12.89. The stock has a market capitalization of $326.56 million, a price-to-earnings ratio of -2.58 and a beta of 0.80. The business’s fifty day moving average price is $3.17 and its two-hundred day moving average price is $6.19.

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.