Jefferies Financial Group Begins Coverage on Tango Therapeutics (NASDAQ:TNGX)

Jefferies Financial Group initiated coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a research note published on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $19.00 price target on the stock.

TNGX has been the topic of a number of other reports. Wedbush dropped their price objective on shares of Tango Therapeutics from $18.00 to $11.00 and set an outperform rating on the stock in a research note on Thursday, May 23rd. HC Wainwright reaffirmed a buy rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, July 9th. Barclays lowered their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an overweight rating on the stock in a report on Friday, May 24th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Guggenheim raised shares of Tango Therapeutics to a strong-buy rating in a report on Tuesday, May 28th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $14.86.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $9.27 on Wednesday. The firm has a market cap of $990.50 million, a PE ratio of -8.20 and a beta of 0.83. Tango Therapeutics has a one year low of $2.88 and a one year high of $13.03. The firm’s fifty day moving average is $8.30 and its two-hundred day moving average is $9.21.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The business had revenue of $6.47 million during the quarter, compared to analyst estimates of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Research analysts predict that Tango Therapeutics will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tango Therapeutics news, insider Mva Investors, Llc sold 110,731 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $8.87, for a total value of $982,183.97. Following the sale, the insider now owns 203,793 shares of the company’s stock, valued at $1,807,643.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the completion of the sale, the insider now directly owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 887,902 shares of company stock valued at $8,086,858. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Boxer Capital LLC lifted its holdings 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 valued at $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the last quarter. Artal Group S.A. acquired a new position in shares of Tango Therapeutics in the first quarter valued at approximately $17,427,000. RTW Investments LP acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $19,471,000. Finally, Mass General Brigham Inc acquired a new position in shares of Tango Therapeutics in the first quarter valued at approximately $2,812,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

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.