Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $15.14 Average PT from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $15.14.

Several research firms recently commented on TNGX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Wedbush increased their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Tuesday, September 10th.

Tango Therapeutics Trading Down 5.7 %

NASDAQ TNGX opened at $5.93 on Monday. The stock has a market cap of $633.60 million, a P/E ratio of -5.25 and a beta of 0.81. The company’s fifty day simple moving average is $8.70 and its 200-day simple moving average is $8.46. Tango Therapeutics has a 52 week low of $5.83 and a 52 week high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. On average, research analysts expect that Tango Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the completion of the transaction, the insider now owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the sale, the insider now owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.79, for a total value of $1,321,650.00. Following the transaction, the insider now owns 17,351,475 shares of the company’s stock, valued at approximately $169,870,940.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,292,400 shares of company stock valued at $11,528,872. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new position in shares of Tango Therapeutics during the 4th quarter valued at $997,000. Point72 Asset Management L.P. bought a new stake in Tango Therapeutics in the second quarter worth about $3,836,000. Vanguard Group Inc. raised its position in Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after acquiring an additional 101,673 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tango Therapeutics by 32.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after acquiring an additional 7,128 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Tango Therapeutics during the 2nd quarter valued at about $99,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.