Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $47.00

Tango Therapeutics (NASDAQ:TNGX) had its price target raised by JPMorgan Chase & Co. from $46.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Tango Therapeutics in a research note on Tuesday. Stifel Nicolaus set a $55.00 price target on shares of Tango Therapeutics in a research note on Friday, October 23rd. Mizuho increased their price target on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Tango Therapeutics in a report on Wednesday, November 4th. Finally, William Blair assumed coverage on Tango Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics has an average rating of “Moderate Buy” and an average target price of $45.54.

Tango Therapeutics Trading Down 3.4%

NASDAQ:TNGX opened at $24.85 on Tuesday. The firm’s fifty day simple moving average is $23.47 and its 200 day simple moving average is $22.72. Tango Therapeutics has a twelve month low of $7.49 and a twelve month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). On average, analysts expect that Tango Therapeutics will post -1.46 EPS for the current year.

Insiders Place Their Bets

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $24.47, for a total transaction of $660,690.00. Following the sale, the insider owned 115,743 shares in the company, valued at approximately $2,832,231.21. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Newcomb sold 8,200 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $24.22, for a total transaction of $198,604.00. Following the sale, the insider owned 59,121 shares in the company, valued at approximately $1,431,910.62. This trade represents a 12.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 47,231 shares of company stock valued at $1,129,029. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. TRV GP IV LLC bought a new stake in Tango Therapeutics during the second quarter worth about $120,181,383,000. BlackRock Inc. bought a new position in shares of Tango Therapeutics during the second quarter valued at approximately $388,826,000. Jupiter Topco LLC bought a new position in shares of Tango Therapeutics during the second quarter valued at approximately $157,989,000. Seven Fleet Capital Management LP lifted its holdings in shares of Tango Therapeutics by 302.2% during the second quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after purchasing an additional 2,425,484 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Tango Therapeutics during the second quarter valued at approximately $62,849,000. 78.99% of the stock is currently owned by institutional investors.

Trending Headlines about Tango Therapeutics

Investors following TNGX have been watching these headlines:

• Positive Sentiment: Canaccord Genuity maintained its Buy rating on TNGX, while JPMorgan also issued a positive outlook. Separate coverage linked an analyst upgrade to a recent share-price rally. Canaccord Genuity rating JPMorgan outlook Analyst upgrade and rally
• Negative Sentiment: HC Wainwright lowered its 2026 and 2027 EPS forecasts, including its FY2027 estimate from a loss of $1.54 to $1.75 per share. It nevertheless kept its Buy rating and $67 target. The revised forecasts point to greater expected losses and could weigh on sentiment. HC Wainwright forecast changes
• Negative Sentiment: Wedbush cut its price target, adding a less-bullish analyst signal. Separately, Tango’s reported quarterly loss per share was wider than analysts expected. Wedbush target cut

About Tango Therapeutics

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.