Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $14.00 at B. Riley

Tango Therapeutics (NASDAQ:TNGX) had its target price lifted by B. Riley from $8.00 to $14.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Guggenheim raised their price target on Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Piper Sandler initiated coverage on Tango Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $11.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Wall Street Zen raised shares of Tango Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Tango Therapeutics Stock Up 0.3%

Shares of NASDAQ:TNGX opened at $8.00 on Tuesday. The firm has a fifty day moving average of $7.88 and a two-hundred day moving average of $6.02. The firm has a market capitalization of $1.08 billion, a P/E ratio of -8.60 and a beta of 1.66. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $9.70.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping 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 the consensus estimate of $41.35 million. Equities research analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the transaction, the insider owned 13,386,574 shares of the company’s stock, valued at approximately $135,873,726.10. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,372,501 shares of company stock valued at $18,639,320 in the last 90 days. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. bought a new stake in shares of Tango Therapeutics during the second quarter valued at approximately $30,235,000. Paradigm Biocapital Advisors LP bought a new position in shares of Tango Therapeutics during the 3rd quarter worth about $25,924,000. Farallon Capital Management LLC boosted its position in shares of Tango Therapeutics by 17.5% during the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after acquiring an additional 1,600,000 shares in the last quarter. Commodore Capital LP acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at about $7,680,000. Finally, Deep Track Capital LP bought a new stake in Tango Therapeutics in the third quarter valued at about $12,218,000. 78.99% of the stock is currently 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.