Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $19.50 Average Price Target from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.6667.

A number of research analysts have commented on TNGX shares. Guggenheim raised their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Stifel Nicolaus upped their price objective on Tango Therapeutics from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. HC Wainwright raised their target price on Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Canaccord Genuity Group initiated coverage on Tango Therapeutics in a research note on Thursday. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Wall Street Zen cut Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st.

Insider Activity

In other news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $21.20, for a total value of $572,400.00. Following the sale, the insider owned 112,622 shares of the company’s stock, valued at approximately $2,387,586.40. This represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barbara Weber sold 30,519 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the sale, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 172,884 shares of company stock worth $2,538,342. Corporate insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Tango Therapeutics by 138.8% in the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock worth $97,000 after purchasing an additional 40,983 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Tango Therapeutics in the first quarter valued at $195,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after buying an additional 15,037 shares during the last quarter. Woodline Partners LP lifted its position in Tango Therapeutics by 28.3% during the 1st quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after buying an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Tango Therapeutics by 270.6% during the 1st quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock worth $483,000 after buying an additional 257,668 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Trading Up 1.9%

Shares of NASDAQ:TNGX opened at $21.63 on Tuesday. The stock has a market capitalization of $3.09 billion, a PE ratio of -24.86 and a beta of 1.31. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $22.20. The firm has a fifty day moving average price of $14.94 and a 200 day moving average price of $11.05.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. On average, sell-side analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

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.