Cantor Fitzgerald Reaffirms Overweight Rating for Tango Therapeutics (NASDAQ:TNGX)

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Thursday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. B. Riley reduced their price objective on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. Wedbush boosted their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Guggenheim reduced their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.14.

Tango Therapeutics Stock Performance

TNGX opened at $3.39 on Thursday. Tango Therapeutics has a 52-week low of $2.70 and a 52-week high of $13.01. The firm has a market cap of $363.61 million, a P/E ratio of -2.87 and a beta of 0.74. The business’s fifty day moving average is $5.20 and its 200-day moving average is $7.74.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now directly owns 16,859,075 shares in the company, valued at approximately $177,526,059.75. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Boxer Capital Management, Llc sold 633,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $6.87, for a total value of $4,348,710.00. Following the sale, the insider now owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. This trade represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,405,400 shares of company stock worth $19,135,882 over the last quarter. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares during the period. State Street Corp grew its position in shares of Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after buying an additional 489,949 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after buying an additional 142,710 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tango Therapeutics by 18.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock worth $3,752,000 after acquiring an additional 76,540 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Tango Therapeutics in the second quarter worth approximately $3,836,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.