Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $42.15 Average Target Price from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $42.1538.

TNGX has been the topic of several recent research reports. Mizuho increased their price objective on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. UBS Group set a $55.00 target price on Tango Therapeutics in a research report on Thursday, May 14th. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $60.00 in a research note on Thursday, June 25th. Canaccord Genuity Group increased their price target on shares of Tango Therapeutics from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Wedbush boosted their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the transaction, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNGX. Farallon Capital Management LLC increased its holdings in shares of Tango Therapeutics by 21.4% in the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after buying an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Tango Therapeutics by 322.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Siren L.L.C. grew its position in Tango Therapeutics by 38.8% during the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after acquiring an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. grew its position in Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares during the last quarter. Finally, State Street Corp increased its stake in Tango Therapeutics by 84.8% in the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after purchasing an additional 2,853,362 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Down 1.9%

TNGX opened at $28.79 on Monday. The stock has a market cap of $4.16 billion, a PE ratio of -34.69 and a beta of 1.16. Tango Therapeutics has a 52 week low of $6.20 and a 52 week high of $34.39. The business’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $21.61.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.32). As a group, equities analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current year.

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.