Tango Therapeutics (NASDAQ:TNGX) Stock Jumps 6% on Analyst Upgrade

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) were up 6% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $47.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Tango Therapeutics traded as high as $24.60 and last traded at $24.10. 2,276,197 shares were traded during mid-day trading, a decline of 35% from the average session volume of 3,483,010 shares. The stock had previously closed at $22.74.

Several other research analysts have also weighed in on the company. William Blair began coverage on Tango Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating on the stock. Wedbush lowered their price target on Tango Therapeutics from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stifel Nicolaus set a $55.00 price target on Tango Therapeutics in a research note on Friday, October 23rd. Jefferies Financial Group restated a “buy” rating and set a $65.00 target price on shares of Tango Therapeutics in a report on Tuesday. Finally, Zacks Research downgraded shares of Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 27th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $45.54.

Insider Transactions at Tango Therapeutics

In other news, insider Jessica Newcomb sold 8,200 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $24.22, for a total transaction of $198,604.00. Following the completion of the transaction, the insider owned 59,121 shares of the company’s stock, valued at approximately $1,431,910.62. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $24.47, for a total transaction of $660,690.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at $2,832,231.21. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 47,231 shares of company stock valued at $1,129,029 in the last three months. Company insiders own 6.50% of the company’s stock.

Key Tango Therapeutics News

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: The company reported promising Phase 1/2 results for vopimetostat plus daraxonrasib in second- and third-line pancreatic cancer: an 82% objective response rate and 88% nine-month progression-free survival. Tango expects to start a registrational Phase 3 study in first-line MTAP-deleted pancreatic cancer in the first half of 2027. Tango Therapeutics Q3 2026 results and business highlights
• Positive Sentiment: JPMorgan raised its price target to $47 from $46 and maintained an Overweight rating, signaling continued confidence in TNGX’s prospects. JPMorgan recommendations
• Positive Sentiment: Tango reported $977.5 million in cash as of September 30, 2026, providing substantial funding for its clinical development plans. Tango Therapeutics Q3 2026 results and business highlights
• Negative Sentiment: Wedbush cut its target to $40 from $45, though it kept an Outperform rating. HC Wainwright also lowered its target, to $67 from $68, while maintaining a Buy rating. Wedbush recommendations HC Wainwright recommendations
• Negative Sentiment: Third-quarter EPS was a loss of $0.39, wider than analysts’ expected loss of $0.35, a modest earnings disappointment. Tango Therapeutics earnings press release

Hedge Funds Weigh In On Tango Therapeutics

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

Tango Therapeutics Price Performance

The company’s 50 day simple moving average is $23.32 and its two-hundred day simple moving average is $22.53. The company has a market cap of $4.05 billion, a PE ratio of -28.35 and a beta of 1.26.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Sell-side analysts expect that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Tango Therapeutics Company Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.