Tango Therapeutics (NASDAQ:TNGX) Stock Price Expected to Rise, Guggenheim Analyst Says

Tango Therapeutics (NASDAQ:TNGX) had its price target upped by stock analysts at Guggenheim from $12.00 to $18.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 43.88% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. B. Riley Financial lifted their target price on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Stifel Nicolaus initiated coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Wall Street Zen upgraded Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Piper Sandler lifted their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Six 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 data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $12.51 on Friday. The business has a fifty day moving average of $10.40 and a 200-day moving average of $8.60. Tango Therapeutics has a twelve month low of $1.03 and a twelve month high of $13.46. The firm has a market cap of $1.68 billion, a PE ratio of -13.45 and a beta of 1.75.

Insider Buying and Selling at Tango Therapeutics

In related news, 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 value of $126,486.42. Following the sale, the chief financial officer directly owned 184,297 shares in the company, valued at $2,259,481.22. This trade represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares in the company, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 59,288 shares of company stock valued at $726,871. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNGX. Vivo Capital LLC acquired a new position in shares of Tango Therapeutics in the 2nd quarter valued at approximately $3,072,000. Geode Capital Management LLC lifted its stake in Tango Therapeutics by 27.9% in the second quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock valued at $9,058,000 after buying an additional 385,476 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Tango Therapeutics in the third quarter valued at approximately $3,560,000. Stempoint Capital LP bought a new stake in shares of Tango Therapeutics during the second quarter worth $1,069,000. Finally, Candriam S.C.A. acquired a new stake in shares of Tango Therapeutics during the second quarter worth $3,629,000. 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.