Tango Therapeutics (NASDAQ:TNGX) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tango Therapeutics (NASDAQ:TNGX) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

TNGX has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Thursday, March 5th. Piper Sandler increased their price target on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Guggenheim raised their price target on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Mizuho lifted their price objective on Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Tango Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Tango Therapeutics Price Performance

Shares of TNGX opened at $19.42 on Friday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -22.32 and a beta of 1.76. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $19.81. The company has a 50-day moving average of $13.49 and a 200 day moving average of $10.23.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the sale, the insider owned 132,873 shares of the company’s stock, valued at $1,696,788.21. This trade represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $374,162.94. Following the completion of the transaction, the director owned 1,629,254 shares in the company, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 133,884 shares of company stock valued at $1,724,622. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently modified their holdings of TNGX. Legal & General Group Plc raised 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 acquiring an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. boosted 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 acquiring an additional 2,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock valued at $58,000 after acquiring an additional 2,243 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Tango Therapeutics by 12.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock worth $194,000 after purchasing an additional 2,444 shares during the last quarter. Finally, Barclays PLC grew its holdings in Tango Therapeutics by 0.7% in the fourth quarter. Barclays PLC now owns 368,187 shares of the company’s stock worth $3,262,000 after purchasing an additional 2,507 shares during the last quarter. 78.99% of the stock is currently owned by 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.