Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.8571.

Several brokerages have issued reports on TNGX. Mizuho began coverage on shares of Tango Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $19.00 price target on the stock. Piper Sandler lifted their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Stifel Nicolaus began 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. Finally, Jefferies Financial Group restated a “buy” rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research report on Thursday.

Insider Buying and Selling at Tango Therapeutics

In other news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the transaction, the chief financial officer owned 184,297 shares of the company’s stock, valued at $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara Weber sold 30,519 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares in the company, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 113,633 shares of company stock worth $1,420,857. Corporate insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNGX. Legal & General Group Plc lifted its stake in shares of Tango Therapeutics by 30.7% during the 2nd 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 period. Russell Investments Group Ltd. increased its stake in Tango Therapeutics by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock valued at $87,000 after purchasing an additional 2,065 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tango Therapeutics by 52.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Tango Therapeutics by 12.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock worth $194,000 after buying an additional 2,444 shares during the last quarter. Finally, Barclays PLC boosted its stake in Tango Therapeutics by 0.7% in the 4th quarter. Barclays PLC now owns 368,187 shares of the company’s stock worth $3,262,000 after buying an additional 2,507 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Stock Up 36.0%

Tango Therapeutics stock opened at $16.80 on Friday. The firm has a market capitalization of $2.26 billion, a PE ratio of -18.06 and a beta of 1.76. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $16.97. The firm’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $9.37.

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.