Wall Street Zen Upgrades Tango Therapeutics (NASDAQ:TNGX) to Hold

Tango Therapeutics (NASDAQ:TNGX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

TNGX has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Guggenheim lifted their target price on shares of Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, 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 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $7.87 on Friday. The stock has a fifty day moving average price of $7.71 and a 200-day moving average price of $5.64. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -8.46 and a beta of 1.66. Tango Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $9.70.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The business had revenue of $53.81 million for the quarter, compared to analysts’ expectations of $41.35 million. Research analysts predict that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of Tango Therapeutics stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the sale, the insider directly owned 13,386,574 shares in the company, valued at approximately $135,873,726.10. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 3,472,501 shares of company stock worth $26,350,320 over the last three months. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TNGX. CWM LLC grew its holdings in Tango Therapeutics by 182.2% during 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. Dynamic Technology Lab Private Ltd raised its position in shares of Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after buying an additional 15,037 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Tango Therapeutics by 78.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock worth $40,000 after buying an additional 3,452 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Tango Therapeutics by 44.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

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.