Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $24.00

Tango Therapeutics (NASDAQ:TNGX) had its price target lifted by Stifel Nicolaus from $15.00 to $24.00 in a research note published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other brokerages have also weighed in on TNGX. Mizuho began coverage on shares of Tango Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $19.00 price objective on the stock. B. Riley Financial boosted their target price on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Tango Therapeutics in a research note on Thursday, March 5th. Wedbush increased their price target on Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tango Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $19.50.

Tango Therapeutics Stock Up 3.0%

NASDAQ:TNGX opened at $16.99 on Monday. Tango Therapeutics has a twelve month low of $1.03 and a twelve month high of $17.63. The company has a fifty day moving average of $12.34 and a 200-day moving average of $9.66. The firm has a market capitalization of $2.42 billion, a P/E ratio of -19.53 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Activity

In related news, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the transaction, the insider owned 132,873 shares of the company’s stock, valued at approximately $1,696,788.21. This trade represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the transaction, the chief financial officer directly owned 184,297 shares in the company, valued at approximately $2,259,481.22. The trade was a 5.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 133,884 shares of company stock worth $1,724,622 over the last three months. 7.50% of the stock is currently owned by insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TNGX. Adage Capital Partners GP L.L.C. boosted its position in shares of Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after buying an additional 8,096,924 shares during the last quarter. Caligan Partners LP bought a new stake in Tango Therapeutics during the fourth quarter worth $33,047,000. Goldman Sachs Group Inc. raised its position in Tango Therapeutics by 227.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after buying an additional 3,432,939 shares during the last quarter. Logos Global Management LP lifted its stake in Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after acquiring an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new position in Tango Therapeutics during the 3rd quarter worth $25,924,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Company Profile

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.