Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Recommendation of “Buy” from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $15.14.

Several research firms recently commented on TNGX. Wedbush raised their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Tuesday, September 10th.

Tango Therapeutics Trading Up 6.6 %

TNGX opened at $7.46 on Monday. The firm has a 50 day moving average of $8.98 and a two-hundred day moving average of $8.51. The firm has a market capitalization of $797.07 million, a PE ratio of -6.60 and a beta of 0.81. Tango Therapeutics has a 12-month low of $6.33 and a 12-month high of $13.01.

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

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the transaction, the insider now directly owns 16,859,075 shares of the company’s stock, valued at approximately $177,526,059.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 867,400 shares of company stock valued at $9,086,622 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNGX. SG Americas Securities LLC acquired a new stake in shares of Tango Therapeutics during the third quarter worth about $151,000. Point72 DIFC Ltd acquired a new stake in Tango Therapeutics in the second quarter valued at approximately $54,000. Point72 Asset Management L.P. acquired a new position in Tango Therapeutics during the 2nd quarter worth approximately $3,836,000. Quarry LP purchased a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $99,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Tango Therapeutics by 82.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock valued at $536,000 after purchasing an additional 28,155 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

About Tango Therapeutics

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.