Analysts Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Price Target at $10.50

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received an average rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.50.

Several brokerages have recently weighed in on TNGX. Piper Sandler began coverage on shares of Tango Therapeutics in a research note on Monday, August 18th. They issued an “overweight” rating and a $11.00 target price for the company. Guggenheim upped their target price on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th.

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $7.01, for a total value of $7,711,000.00. Following the completion of the transaction, the insider directly owned 15,759,075 shares in the company, valued at approximately $110,471,115.75. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,131,559 shares of company stock valued at $14,935,371 in the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after purchasing an additional 3,167 shares during the period. Stonebrook Private Inc. bought a new position in Tango Therapeutics during the 4th quarter valued at $34,000. Ameriprise Financial Inc. bought a new position in Tango Therapeutics during the 4th quarter valued at $35,000. Dynamic Technology Lab Private Ltd boosted its stake in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after acquiring an additional 15,037 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in 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. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Down 4.5%

Tango Therapeutics stock opened at $6.53 on Friday. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $10.85. The firm has a fifty day moving average of $6.60 and a 200-day moving average of $3.89. The firm has a market capitalization of $726.53 million, a P/E ratio of -4.91 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. The company had revenue of $3.18 million during the quarter, compared to analyst estimates of $6.41 million. On average, research analysts expect that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

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.