Tango Therapeutics (NASDAQ:TNGX) Stock Rating Upgraded by Wall Street Zen

Tango Therapeutics (NASDAQ:TNGX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently weighed in on TNGX. Stifel Nicolaus started coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. Piper Sandler initiated coverage on shares of Tango Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $11.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. B. Riley boosted their price target on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Guggenheim raised their price objective on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Tango Therapeutics Trading Up 2.7%

TNGX stock opened at $9.35 on Friday. The stock has a 50-day moving average price of $8.68 and a two-hundred day moving average price of $7.06. The stock has a market cap of $1.26 billion, a PE ratio of -10.05 and a beta of 1.71. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $11.20.

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

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 500,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $8.02, for a total value of $4,010,000.00. Following the sale, the insider directly owned 13,863,975 shares of the company’s stock, valued at approximately $111,189,079.50. This represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,340,942 shares of company stock worth $11,414,949. 7.50% of the stock is owned by insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. bought a new position in shares of Tango Therapeutics during the 2nd quarter worth approximately $30,235,000. Paradigm Biocapital Advisors LP acquired a new stake in Tango Therapeutics during the 3rd quarter valued at $25,924,000. Farallon Capital Management LLC lifted its holdings in Tango Therapeutics by 17.5% during the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after purchasing an additional 1,600,000 shares during the last quarter. Commodore Capital LP bought a new position in Tango Therapeutics during the second quarter worth $7,680,000. Finally, Deep Track Capital LP bought a new position in Tango Therapeutics in the 3rd quarter valued at about $12,218,000. 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.