Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) PT at $13.14

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.14.

Several brokerages recently commented on TNGX. B. Riley dropped their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. Wedbush upped 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. Finally, Guggenheim dropped their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the transaction, the insider now directly owns 17,176,475 shares in the company, valued at approximately $198,388,286.25. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the transaction, the insider now owns 3,610,642 shares of the company’s stock, valued at $11,337,415.88. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,680,400 shares of company stock worth $22,321,632 over the last ninety days. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares during the last quarter. State Street Corp boosted its stake in Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after acquiring an additional 489,949 shares during the last quarter. Artal Group S.A. bought a new position in Tango Therapeutics during the 1st quarter valued at $17,427,000. Geode Capital Management LLC boosted its stake in Tango Therapeutics by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after acquiring an additional 142,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tango Therapeutics by 18.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock valued at $3,752,000 after acquiring an additional 76,540 shares during the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Price Performance

NASDAQ:TNGX opened at $3.85 on Friday. Tango Therapeutics has a 1-year low of $2.70 and a 1-year high of $13.01. The firm has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $8.14. The firm has a market cap of $413.57 million, a PE ratio of -3.26 and a beta of 0.88.

About Tango Therapeutics

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.