Tango Therapeutics (NASDAQ:TNGX – Free Report) had its price target reduced by Guggenheim from $16.00 to $14.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.
Other research analysts have also issued reports about the company. Piper Sandler assumed coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an overweight rating and a $18.00 target price on the stock. HC Wainwright reaffirmed a buy rating and issued a $17.00 price target on shares of Tango Therapeutics in a report on Thursday, May 9th. Wedbush dropped their price objective on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating for the company in a research note on Thursday. Barclays cut their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an overweight rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald began coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an overweight rating for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $14.83.
Read Our Latest Report on TNGX
Tango Therapeutics Trading Down 2.5 %
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The business had revenue of $5.43 million during the quarter, compared to analysts’ expectations of $7.86 million. As a group, research analysts anticipate that Tango Therapeutics will post -1.33 EPS for the current year.
Insider Buying and Selling at Tango Therapeutics
In other Tango Therapeutics news, insider Mva Investors, Llc sold 60,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total transaction of $456,600.00. Following the transaction, the insider now owns 483,524 shares of the company’s stock, valued at approximately $3,679,617.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 6.20% of the company’s stock.
Hedge Funds Weigh In On Tango Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Artal Group S.A. acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at about $17,427,000. RTW Investments LP purchased a new stake in Tango Therapeutics in the fourth quarter worth about $19,471,000. FMR LLC lifted its position in Tango Therapeutics by 12.3% during the third quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after purchasing an additional 1,276,945 shares during the period. Boxer Capital LLC increased its stake in shares of Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Tango Therapeutics during the third quarter valued at $8,937,000. Institutional investors own 78.99% of the company’s stock.
Tango Therapeutics Company Profile
Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.
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