Mizuho Issues Positive Forecast for Tango Therapeutics (NASDAQ:TNGX) Stock Price

Tango Therapeutics (NASDAQ:TNGX) had its price target hoisted by research analysts at Mizuho from $19.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 22.29% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. HC Wainwright increased their price target on Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Jefferies Financial Group reiterated a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a research report on Thursday, March 5th. Piper Sandler increased their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Guggenheim raised their price target on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Wolfe Research began coverage on Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Tango Therapeutics Stock Performance

TNGX opened at $16.36 on Wednesday. Tango Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $17.63. The company has a market capitalization of $2.33 billion, a P/E ratio of -18.92 and a beta of 1.76. The stock has a fifty day moving average of $12.17 and a 200-day moving average of $9.61.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, beating 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, equities research analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 20,251 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $15.00, for a total transaction of $303,765.00. Following the completion of the transaction, the insider owned 112,622 shares of the company’s stock, valued at approximately $1,689,330. The trade was a 15.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniella Beckman sold 10,317 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 133,884 shares of company stock valued at $1,724,622. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TNGX. Vivo Capital LLC acquired a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $3,072,000. Geode Capital Management LLC increased its position in Tango Therapeutics by 27.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock worth $9,058,000 after purchasing an additional 385,476 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Tango Therapeutics during the 3rd quarter worth approximately $3,560,000. Rafferty Asset Management LLC bought a new position in Tango Therapeutics in the 3rd quarter valued at approximately $1,221,000. Finally, Stempoint Capital LP bought a new position in Tango Therapeutics in the 2nd quarter valued at approximately $1,069,000. 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.