Tango Therapeutics (NASDAQ:TNGX) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $46.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 66.43% from the stock’s previous close.

Other analysts have also issued reports about the company. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Raymond James Financial downgraded Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th. Piper Sandler lowered Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. Mizuho set a $36.00 target price on Tango Therapeutics in a research note on Monday, June 8th. Finally, Wolfe Research set a $35.00 price target on Tango Therapeutics and gave the stock an “outperform” rating in a research report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.85.

Tango Therapeutics Stock Down 8.6%

Shares of NASDAQ:TNGX opened at $27.64 on Wednesday. Tango Therapeutics has a 12 month low of $5.77 and a 12 month high of $34.39. The company’s fifty day simple moving average is $26.55 and its 200 day simple moving average is $19.89. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -33.30 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Research analysts expect that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 81,000 shares of company stock valued at $1,989,630 over the last 90 days. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after buying an additional 15,037 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Tango Therapeutics by 30.7% in the second 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 bought a new position in shares of Tango Therapeutics in the fourth quarter valued at $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 in the last quarter. 78.99% of the stock is currently owned by 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.