Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.8462.

A number of equities analysts have weighed in on TNGX shares. Weiss Ratings lowered Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. started coverage on Tango Therapeutics in a research note on Wednesday. They issued an “overweight” rating and a $46.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Piper Sandler cut Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. Finally, Stifel Nicolaus boosted their price target on Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 27th.

Tango Therapeutics Price Performance

TNGX stock opened at $30.25 on Thursday. The company has a market capitalization of $4.38 billion, a P/E ratio of -36.45 and a beta of 1.12. Tango Therapeutics has a 12 month low of $5.77 and a 12 month high of $34.39. The firm’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $19.76.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). As a group, sell-side analysts forecast that Tango Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at $3,424,835.37. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 81,000 shares of company stock worth $1,989,630. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tema ETFs LLC acquired a new position in shares of Tango Therapeutics in the second quarter worth about $1,731,000. Handelsbanken Fonder AB purchased a new position in Tango Therapeutics during the second quarter worth approximately $9,000,000. Assenagon Asset Management S.A. acquired a new stake in Tango Therapeutics in the second quarter valued at approximately $10,790,000. DV Trading LLC acquired a new stake in Tango Therapeutics in the first quarter valued at approximately $6,290,000. Finally, Perceptive Advisors LLC increased its position in shares of Tango Therapeutics by 57.5% in the first quarter. Perceptive Advisors LLC now owns 808,153 shares of the company’s stock valued at $16,907,000 after buying an additional 295,118 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.