Tango Therapeutics (NASDAQ:TNGX) Trading Up 6.1% – Should You Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price shot up 6.1% on Friday . The stock traded as high as $29.25 and last traded at $29.3360. 316,615 shares changed hands during trading, a decline of 91% from the average daily volume of 3,701,445 shares. The stock had previously closed at $27.64.

Analyst Upgrades and Downgrades

TNGX has been the subject of a number of research reports. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Mizuho raised their price objective on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. assumed coverage on Tango Therapeutics in a research report on Wednesday. They set an “overweight” rating and a $46.00 target price for the company. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Weiss Ratings downgraded Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $42.15.

Tango Therapeutics Price Performance

The firm has a market capitalization of $4.13 billion, a P/E ratio of -34.41 and a beta of 1.12. The stock’s fifty day simple moving average is $26.66 and its 200 day simple moving average is $19.95.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). As a group, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the sale, the insider owned 115,743 shares of the company’s stock, valued at $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 81,000 shares of company stock worth $1,989,630 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of large investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $35,000. Dynamic Technology Lab Private Ltd grew its stake in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after buying an additional 15,037 shares during the last quarter. Legal & General Group Plc increased its position in 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. ANTIPODES PARTNERS Ltd acquired a new position in Tango Therapeutics during the 4th quarter valued at about $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tango Therapeutics by 148,800.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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.