Tango Therapeutics (NASDAQ:TNGX) Stock Rating Reaffirmed by HC Wainwright

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 116.67% from the stock’s current price.

TNGX has been the subject of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Jefferies Financial Group began coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price for the company. Finally, Wedbush boosted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.14.

Tango Therapeutics Trading Up 1.4 %

TNGX opened at $6.00 on Monday. The firm has a market cap of $641.08 million, a P/E ratio of -5.31 and a beta of 0.81. Tango Therapeutics has a 12 month low of $5.62 and a 12 month high of $13.01. The stock has a 50-day moving average of $8.51 and a 200 day moving average of $8.45.

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

Insider Activity at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the sale, the insider now owns 7,573,642 shares in the company, valued at approximately $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the transaction, the insider now owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the completion of the transaction, the insider now directly owns 17,351,475 shares of the company’s stock, valued at $169,870,940.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,925,400 shares of company stock worth $15,877,582. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics during the second quarter worth $54,000. Paloma Partners Management Co purchased a new stake in shares of Tango Therapeutics during the first quarter valued at $80,000. Principal Financial Group Inc. purchased a new stake in shares of Tango Therapeutics during the second quarter valued at $90,000. Quarry LP purchased a new stake in Tango Therapeutics in the second quarter valued at $99,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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.