Tango Therapeutics’ (TNGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Tango Therapeutics (NASDAQ:TNGX) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $13.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued an overweight rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Wedbush boosted their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Guggenheim raised Tango Therapeutics to a strong-buy rating in a research note on Tuesday, May 28th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a buy rating and a $19.00 price target on the stock. Finally, Barclays cut their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an overweight rating for the company in a report on Friday, May 24th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $15.14.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $10.50 on Tuesday. Tango Therapeutics has a one year low of $5.15 and a one year high of $13.03. The stock’s fifty day moving average is $10.01 and its 200-day moving average is $8.86. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.29 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The firm had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. Analysts forecast that Tango Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Activity

In related news, insider Mva Investors, Llc sold 29,000 shares of Tango Therapeutics stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.57, for a total value of $248,530.00. Following the transaction, the insider now owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mva Investors, Llc sold 29,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $8.57, for a total value of $248,530.00. Following the completion of the transaction, the insider now owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the completion of the transaction, the insider now directly owns 18,651,304 shares of the company’s stock, valued at approximately $182,596,266.16. The disclosure for this sale can be found here. Insiders sold a total of 1,752,642 shares of company stock valued at $17,563,385 over the last three months. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Boxer Capital LLC boosted its holdings in shares of Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after purchasing an additional 1,075,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the period. Artal Group S.A. purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at $17,427,000. RTW Investments LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $19,471,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Tango Therapeutics in the second quarter worth $3,836,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.