Tango Therapeutics (NASDAQ:TNGX) Sets New 1-Year High – Still a Buy?

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) hit a new 52-week high during trading on Monday . The company traded as high as $29.70 and last traded at $28.7090, with a volume of 2715375 shares trading hands. The stock had previously closed at $20.22.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Mizuho raised their price objective on shares of Tango Therapeutics from $20.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of Tango Therapeutics in a research report on Friday, March 27th. Jefferies Financial Group lowered shares of Tango Therapeutics from a “buy” rating to a “hold” rating and upped their target price for the stock from $18.00 to $27.00 in a report on Thursday, May 14th. Piper Sandler cut shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. Finally, Weiss Ratings downgraded Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.27.

Tango Therapeutics Trading Up 36.1%

The stock has a market capitalization of $3.98 billion, a PE ratio of -34.60 and a beta of 1.19. The stock’s fifty day simple moving average is $22.43 and its 200-day simple moving average is $15.66.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. As a group, analysts anticipate that Tango Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 38,460 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total transaction of $961,500.00. Following the transaction, the insider owned 112,622 shares of the company’s stock, valued at $2,815,550. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 131,460 shares of company stock worth $2,965,920. 6.50% of the stock is owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC bought a new stake in Tango Therapeutics during the fourth quarter worth $35,000. Dynamic Technology Lab Private Ltd grew its stake in 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 purchasing an additional 15,037 shares during the period. Legal & General Group Plc increased its position in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after purchasing an additional 4,464 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Tango Therapeutics during the 4th quarter worth $40,000. 78.99% of the stock is owned by hedge funds and other 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.