Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.00 Consensus Target Price from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.00.

Several research analysts recently weighed in on TNGX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Guggenheim upped their price objective on shares of Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Finally, B. Riley boosted their price target on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 18th.

Tango Therapeutics Stock Performance

TNGX stock opened at $8.67 on Friday. The stock’s 50 day moving average price is $8.80 and its 200 day moving average price is $7.41. The firm has a market cap of $1.17 billion, a P/E ratio of -9.32 and a beta of 1.72. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $11.20.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The company had revenue of $53.81 million during the quarter, compared to the consensus estimate of $41.35 million. On average, research analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Activity at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total value of $4,845,620.15. Following the completion of the transaction, the insider directly owned 13,386,574 shares in the company, valued at approximately $135,873,726.10. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after acquiring an additional 3,167 shares during the last quarter. Legal & General Group Plc raised its stake in Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Tango Therapeutics by 461.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,729 shares of the company’s stock valued at $65,000 after purchasing an additional 6,352 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Tango Therapeutics by 78.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after buying an additional 3,452 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Tango Therapeutics by 44.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after buying an additional 2,907 shares during the period. 78.99% of the stock is currently 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.