Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $43.46.

TNGX has been the topic of several recent analyst reports. Raymond James Financial lowered Tango Therapeutics to a “hold” rating in a research note on Thursday, June 25th. Leerink Partners raised their price objective on Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the company an “outperform” rating in a report on Monday, June 8th. Guggenheim upped their target price on shares of Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group upped their target price 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.

Insider Buying and Selling

In other news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Newcomb sold 8,200 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total transaction of $198,604.00. Following the transaction, the insider directly owned 59,121 shares of the company’s stock, valued at $1,431,910.62. The trade was a 12.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Tango Therapeutics during the second quarter worth $388,826,000. TRV GP IV LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at $120,181,383,000. Jupiter Topco LLC purchased a new stake in shares of Tango Therapeutics in the 2nd quarter valued at $157,989,000. Seven Fleet Capital Management LP raised its holdings in shares of Tango Therapeutics by 302.2% in the 2nd quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after buying an additional 2,425,484 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Tango Therapeutics during the 2nd quarter worth about $62,849,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

TNGX stock opened at $24.92 on Tuesday. Tango Therapeutics has a one year low of $6.69 and a one year high of $34.39. The firm has a market cap of $4.20 billion, a PE ratio of -29.32 and a beta of 1.12. The firm’s 50 day moving average price is $25.19 and its 200-day moving average price is $24.62.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Equities research analysts predict that Tango Therapeutics will post -1.41 EPS for the current fiscal year.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango’s research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.