Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $40.00 at Stifel Nicolaus

Tango Therapeutics (NASDAQ:TNGX) had its price objective hoisted by Stifel Nicolaus from $24.00 to $40.00 in a research report report published on Monday, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on TNGX. Piper Sandler boosted their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Mizuho boosted their target price on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. HC Wainwright boosted 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, March 6th. Canaccord Genuity Group started coverage on shares of Tango Therapeutics in a report on Thursday, April 2nd. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Monday. Eleven 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.44.

Tango Therapeutics Stock Up 2.2%

TNGX stock opened at $26.33 on Monday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -30.26 and a beta of 1.31. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $28.41. The company’s fifty day simple moving average is $18.87 and its 200 day simple moving average is $13.02.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (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%. Research analysts expect that Tango Therapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 38,460 shares of Tango Therapeutics stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total value of $961,500.00. Following the completion of the sale, the insider directly owned 112,622 shares of the company’s stock, valued at approximately $2,815,550. The trade was a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director directly owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 211,344 shares of company stock valued at $3,499,842. Corporate insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TNGX. Invesco Ltd. increased its position in shares of Tango Therapeutics by 138.8% during the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock worth $97,000 after acquiring an additional 40,983 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Tango Therapeutics during the first quarter worth about $195,000. Dynamic Technology Lab Private Ltd increased 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 acquiring an additional 15,037 shares in the last quarter. Woodline Partners LP increased its position in shares of Tango Therapeutics by 28.3% during the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after acquiring an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Tango Therapeutics by 270.6% during the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock worth $483,000 after acquiring an additional 257,668 shares in the last quarter. 78.99% of the stock is owned by 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.