Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $12.00

Tango Therapeutics (NASDAQ:TNGX) had its target price increased by Guggenheim from $10.00 to $12.00 in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on TNGX. Piper Sandler began coverage on shares of Tango Therapeutics in a research note on Monday, August 18th. They set an “overweight” rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Tango Therapeutics Trading Down 0.5%

Shares of NASDAQ TNGX opened at $7.49 on Friday. The stock has a market cap of $833.34 million, a price-to-earnings ratio of -5.63 and a beta of 1.67. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $9.70. The company’s 50-day moving average price is $7.51 and its 200 day moving average price is $5.21.

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

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $8.02, for a total value of $4,010,000.00. Following the sale, the insider directly owned 13,863,975 shares of the company’s stock, valued at approximately $111,189,079.50. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,995,100 shares of company stock valued at $21,504,700 over the last 90 days. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of TNGX. Bank of New York Mellon Corp boosted its position in shares of Tango Therapeutics by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company’s stock worth $155,000 after acquiring an additional 10,213 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Tango Therapeutics by 115.7% in the first quarter. XTX Topco Ltd now owns 168,145 shares of the company’s stock worth $230,000 after acquiring an additional 90,208 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tango Therapeutics by 6.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 548,014 shares of the company’s stock worth $751,000 after acquiring an additional 34,585 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Tango Therapeutics by 46.7% in the 1st quarter. Deutsche Bank AG now owns 53,788 shares of the company’s stock valued at $74,000 after purchasing an additional 17,135 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Tango Therapeutics by 138.8% in the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock valued at $97,000 after purchasing an additional 40,983 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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.