Tango Therapeutics (NASDAQ:TNGX) Raised to Buy at Wall Street Zen

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

Several other research firms have also recently commented on TNGX. Stifel Nicolaus assumed coverage on shares of Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. B. Riley lifted their price objective on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Finally, Guggenheim lifted their price target on Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $9.35 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -10.05 and a beta of 1.72. The stock’s 50-day moving average is $8.68 and its two-hundred day moving average is $6.99. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $11.20.

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

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total value of $4,845,620.15. Following the completion of the transaction, the insider owned 13,386,574 shares in the company, valued at $135,873,726.10. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 1,340,942 shares of company stock valued at $11,414,949 over the last three months. 7.50% of the stock is owned by insiders.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Tango Therapeutics by 44.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after acquiring an additional 2,907 shares during the period. CWM LLC grew its position in shares of Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after acquiring an additional 3,167 shares during 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 valued at $40,000 after acquiring an additional 3,452 shares during the period. Finally, ProShare Advisors LLC raised its position in Tango Therapeutics by 30.1% in the 2nd quarter. ProShare Advisors LLC now owns 19,775 shares of the company’s stock valued at $101,000 after purchasing an additional 4,570 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other 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.