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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is $12.33.

A number of equities research analysts have weighed in on TNGX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday, November 8th. Finally, B. Riley reduced their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th.

Tango Therapeutics Stock Down 2.9 %

TNGX stock opened at $2.36 on Friday. The business has a 50 day moving average price of $2.93 and a 200 day moving average price of $5.56. The stock has a market cap of $253.51 million, a price-to-earnings ratio of -2.00 and a beta of 0.80. Tango Therapeutics has a fifty-two week low of $2.35 and a fifty-two week high of $12.02.

Insider Activity

In other news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the transaction, the chief executive officer now owns 1,631,264 shares of the company’s stock, valued at approximately $4,877,479.36. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 24,268 shares of company stock valued at $72,561. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TNGX. Teacher Retirement System of Texas raised its position in Tango Therapeutics by 35.8% in the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company’s stock worth $45,000 after acquiring an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Tango Therapeutics by 29.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company’s stock worth $65,000 after acquiring an additional 4,813 shares in the last quarter. Deutsche Bank AG raised its position in Tango Therapeutics by 24.1% in the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock worth $113,000 after acquiring an additional 7,128 shares in the last quarter. Wells Fargo & Company MN raised its position in Tango Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company’s stock worth $69,000 after acquiring an additional 7,599 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Tango Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $159,000 after acquiring an additional 8,055 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.