Wall Street Zen Downgrades Tango Therapeutics (NASDAQ:TNGX) to Sell

Tango Therapeutics (NASDAQ:TNGX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group reiterated a “buy” rating and set a $18.00 price objective on shares of Tango Therapeutics in a research report on Thursday, March 5th. HC Wainwright raised their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Piper Sandler increased their price target on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, Guggenheim raised their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Tango Therapeutics Price Performance

Shares of TNGX opened at $19.42 on Friday. The firm has a 50 day simple moving average of $13.49 and a two-hundred day simple moving average of $10.21. Tango Therapeutics has a one year low of $1.03 and a one year high of $19.81. The company has a market cap of $2.77 billion, a P/E ratio of -22.32 and a beta of 1.76.

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%. On average, 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 company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the sale, the director directly owned 1,629,254 shares in the company, valued at $19,974,654.04. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniella Beckman sold 10,317 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer directly owned 184,297 shares of the company’s stock, valued at $2,259,481.22. This represents a 5.30% 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 valued at $1,724,622. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new position in Tango Therapeutics in the fourth quarter valued at approximately $1,906,000. XTX Topco Ltd bought a new stake in shares of Tango Therapeutics in the 4th quarter valued at $335,000. VARCOV Co. bought a new stake in shares of Tango Therapeutics in the 4th quarter valued at $261,000. Virtus Investment Advisers LLC lifted its position in shares of Tango Therapeutics by 26.3% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock valued at $252,000 after acquiring an additional 5,920 shares during the period. Finally, Tudor Investment Corp ET AL boosted its stake in Tango Therapeutics by 27.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after acquiring an additional 14,679 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Company Profile

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.