Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Target Price at $13.14

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.14.

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. B. Riley dropped their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Guggenheim reduced their price target on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th.

Tango Therapeutics Stock Up 4.5 %

Shares of TNGX stock opened at $3.04 on Wednesday. Tango Therapeutics has a 12-month low of $2.59 and a 12-month high of $12.89. The firm has a fifty day moving average of $3.17 and a 200-day moving average of $6.19. The company has a market capitalization of $326.56 million, a price-to-earnings ratio of -2.58 and a beta of 0.80.

Insider Buying and Selling

In other Tango Therapeutics news, Director Mace Rothenberg purchased 10,000 shares of Tango Therapeutics stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $3.62 per share, for a total transaction of $36,200.00. Following the completion of the acquisition, the director now owns 21,250 shares of the company’s stock, valued at approximately $76,925. This trade represents a 88.89 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TNGX. State Street Corp raised its stake in Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after acquiring an additional 489,949 shares during the period. Geode Capital Management LLC raised its position in shares of Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after purchasing an additional 142,710 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tango Therapeutics by 18.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock worth $3,752,000 after buying an additional 76,540 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tango Therapeutics during the 2nd quarter worth about $3,836,000. Finally, Dimensional Fund Advisors LP grew its stake in Tango Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after buying an additional 100,257 shares during the last quarter. 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.