Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) PT at $13.00

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.00.

TNGX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. B. Riley raised their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wolfe Research started coverage on Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Stifel Nicolaus started coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total value of $4,845,620.15. Following the transaction, the insider directly owned 13,386,574 shares of the company’s stock, valued at $135,873,726.10. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TNGX. Legal & General Group Plc lifted 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 last quarter. Tower Research Capital LLC TRC increased its stake in shares of Tango Therapeutics by 44.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares during the last quarter. CWM LLC raised its holdings in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after buying an additional 3,167 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position 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 worth $40,000 after buying an additional 3,452 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Tango Therapeutics by 30.1% during the 2nd quarter. ProShare Advisors LLC now owns 19,775 shares of the company’s stock worth $101,000 after buying an additional 4,570 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $8.76 on Friday. The firm has a 50-day moving average of $8.81 and a 200-day moving average of $7.36. The stock has a market cap of $1.18 billion, a PE ratio of -9.42 and a beta of 1.72. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $11.20.

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

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.