Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $24.00 at Stifel Nicolaus

Tango Therapeutics (NASDAQ:TNGX) had its price target lifted by Stifel Nicolaus from $15.00 to $24.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

TNGX has been the subject of a number of other reports. HC Wainwright increased their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday. Guggenheim upped their price target on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen downgraded Tango Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Tango Therapeutics in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Nine investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.38.

Tango Therapeutics Stock Down 2.9%

Shares of TNGX opened at $16.45 on Monday. The company has a 50-day simple moving average of $12.02 and a 200-day simple moving average of $9.54. The company has a market capitalization of $2.35 billion, a PE ratio of -18.91 and a beta of 1.76. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $17.63.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, research analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 20,251 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.00, for a total transaction of $303,765.00. Following the completion of the transaction, the insider directly owned 112,622 shares of the company’s stock, valued at $1,689,330. The trade was a 15.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,884 shares of company stock valued at $1,724,622 over the last quarter. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Farallon Capital Management LLC boosted its position in Tango Therapeutics by 21.4% during the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after acquiring an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Siren L.L.C. lifted its stake in shares of Tango Therapeutics by 38.8% during the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after purchasing an additional 2,282,186 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after purchasing an additional 1,698,974 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Tango Therapeutics by 84.8% during the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after purchasing an additional 2,853,362 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.