Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.00 Consensus PT from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.00.

A number of analysts have weighed in on the company. Wolfe Research started coverage on Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Stifel Nicolaus initiated coverage on Tango Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Guggenheim increased 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $135,873,726.10. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Tango Therapeutics by 182.2% in 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 in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc raised its position 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 during the period. Ameritas Investment Partners Inc. lifted 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 purchasing an additional 3,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Tango Therapeutics by 44.3% in the 2nd 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 during the period. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $8.53 on Friday. The business’s 50 day simple moving average is $8.83 and its 200 day simple moving average is $7.34. Tango Therapeutics has a one year low of $1.03 and a one year high of $11.20. The stock has a market capitalization of $1.15 billion, a PE ratio of -9.17 and a beta of 1.72.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $53.81 million during the quarter, compared to analyst estimates of $41.35 million. As a group, research analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current year.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.