Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $12.33 Average PT from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.33.

Separately, HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Monday.

Tango Therapeutics Stock Down 6.9 %

Tango Therapeutics stock opened at $1.28 on Monday. The firm has a market capitalization of $138.38 million, a PE ratio of -1.08 and a beta of 1.03. Tango Therapeutics has a 52 week low of $1.11 and a 52 week high of $12.02. The firm’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $3.37.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. The business had revenue of $4.12 million during the quarter, compared to analyst estimates of $7.84 million. On average, research analysts expect that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the sale, the chief executive officer now owns 1,631,264 shares in the company, valued at $4,877,479.36. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 24,268 shares of company stock worth $72,561. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after purchasing an additional 489,949 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after acquiring an additional 142,710 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Tango Therapeutics during the fourth quarter valued at about $2,031,000. Swiss National Bank grew its position in Tango Therapeutics by 13.1% during the fourth quarter. Swiss National Bank now owns 94,900 shares of the company’s stock valued at $293,000 after acquiring an additional 11,000 shares during the period. Finally, American Century Companies Inc. increased its stake in Tango Therapeutics by 12.4% during the fourth quarter. American Century Companies Inc. now owns 110,448 shares of the company’s stock worth $341,000 after acquiring an additional 12,162 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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.