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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $43.4615.

Several equities analysts have recently weighed in on the company. UBS Group set a $55.00 price target on Tango Therapeutics in a research report on Thursday, May 14th. Canaccord Genuity Group increased their price objective on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Wall Street Zen downgraded Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $60.00 in a report on Thursday, June 25th.

Tango Therapeutics Trading Down 0.7%

Shares of TNGX stock opened at $25.28 on Friday. The firm’s 50 day moving average is $27.84 and its 200 day moving average is $23.13. The stock has a market capitalization of $4.26 billion, a P/E ratio of -29.74 and a beta of 1.16. Tango Therapeutics has a 12 month low of $6.25 and a 12 month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). On average, equities analysts predict that Tango Therapeutics will post -1.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the company’s 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 sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Corient Private Wealth LP purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at $1,218,000. Amundi bought a new stake in Tango Therapeutics during the second quarter valued at $277,000. California State Teachers Retirement System boosted its stake in Tango Therapeutics by 6,894.7% during the second quarter. California State Teachers Retirement System now owns 3,335,848 shares of the company’s stock valued at $106,713,000 after buying an additional 3,288,157 shares during the period. Nykredit A S purchased a new position in Tango Therapeutics during the second quarter worth about $26,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Tango Therapeutics in the 2nd quarter worth about $205,000. 78.99% of the stock is owned by institutional investors.

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.