Tango Therapeutics (NASDAQ:TNGX) Shares Gap Up – Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $19.95, but opened at $21.00. Tango Therapeutics shares last traded at $20.3840, with a volume of 834,114 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Wedbush raised 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. Guggenheim raised their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Canaccord Genuity Group started coverage on shares of Tango Therapeutics in a research report on Thursday, April 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Mizuho raised their price target on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.67.

Tango Therapeutics Price Performance

The firm has a market capitalization of $3.43 billion, a PE ratio of -27.64 and a beta of 1.31. The firm’s fifty day moving average is $16.42 and its two-hundred day moving average is $11.85.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In related news, CFO Daniella Beckman sold 10,317 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the transaction, the chief financial officer owned 184,297 shares in the company, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara Weber sold 30,519 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 172,884 shares of company stock worth $2,538,342. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after buying an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Tango Therapeutics by 26.7% during the 4th quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock valued at $87,000 after buying an additional 2,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tango Therapeutics by 52.2% during 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tango Therapeutics by 12.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock valued at $194,000 after buying an additional 2,444 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Tango Therapeutics by 0.7% during the 4th quarter. Barclays PLC now owns 368,187 shares of the company’s stock valued at $3,262,000 after buying an additional 2,507 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other 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.