Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Rating of “Moderate Buy” by Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $19.50.

Several equities research analysts have recently issued reports on TNGX shares. Guggenheim raised their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Wedbush upped their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Mizuho increased their price objective on shares of Tango Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. HC Wainwright raised their price objective on shares of Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a research report on Thursday, March 5th.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $19.21 on Tuesday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -22.08 and a beta of 1.76. The stock has a 50 day moving average price of $14.41 and a 200-day moving average price of $10.80. Tango Therapeutics has a one year low of $1.03 and a one year high of $21.82.

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

Insider Activity at Tango Therapeutics

In related news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was 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 $2,259,481.22. The trade was a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Crystal sold 54,345 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the completion of the sale, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 145,884 shares of company stock worth $1,965,942 in the last quarter. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TNGX. Vivo Capital LLC bought a new position in Tango Therapeutics in the second quarter worth approximately $3,072,000. Farallon Capital Management LLC raised its position in Tango Therapeutics by 17.5% during the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after purchasing an additional 1,600,000 shares in the last quarter. Geode Capital Management LLC raised its position in Tango Therapeutics by 27.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock valued at $9,058,000 after purchasing an additional 385,476 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Tango Therapeutics in the 3rd quarter worth $1,221,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Tango Therapeutics in the 3rd quarter worth $3,560,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.