Mizuho Forecasts Strong Price Appreciation for Tango Therapeutics (NASDAQ:TNGX) Stock

Tango Therapeutics (NASDAQ:TNGX) had its price objective lifted by research analysts at Mizuho from $19.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 16.47% from the company’s current price.

Several other research firms have also weighed in on TNGX. Jefferies Financial Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research note on Thursday, March 5th. Guggenheim increased their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wolfe Research initiated coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Wedbush lifted their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Tango Therapeutics from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Tango Therapeutics Stock Up 1.1%

TNGX stock opened at $17.17 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -19.74 and a beta of 1.76. The business has a fifty day simple moving average of $12.50 and a 200-day simple moving average of $9.72. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $17.63.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. As a group, analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Barbara Weber sold 30,519 shares of the firm’s 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 sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam Crystal sold 20,251 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $15.00, for a total value of $303,765.00. Following the completion of the transaction, the insider owned 112,622 shares of the company’s stock, valued at approximately $1,689,330. This represents a 15.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 133,884 shares of company stock worth $1,724,622. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Tango Therapeutics during the 4th quarter valued at $35,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Tango Therapeutics in the 4th quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Tango Therapeutics by 52.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock valued at $58,000 after buying an additional 2,243 shares during the last quarter. Finally, Legal & General Group Plc grew its stake 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 valued at $36,000 after acquiring an additional 1,640 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

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.