Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 3%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price shot up 3% on Wednesday . The company traded as high as $8.92 and last traded at $8.88. 19,843 shares were traded during mid-day trading, a decline of 97% from the average session volume of 725,387 shares. The stock had previously closed at $8.62.

Analyst Ratings Changes

Several brokerages have recently issued reports on TNGX. Barclays reduced their price objective on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. Wedbush boosted their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Stock Up 0.3 %

The firm has a market capitalization of $924.22 million, a PE ratio of -7.63 and a beta of 0.84. The company’s 50-day simple moving average is $10.00 and its 200 day simple moving average is $8.79.

Tango Therapeutics (NASDAQ:TNGX) last posted 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 business had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. On average, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of Tango Therapeutics 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 transaction, the insider now directly owns 16,859,075 shares of the company’s stock, valued at approximately $177,526,059.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.53, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $8.87, for a total value of $982,183.97. Following the transaction, the insider now owns 203,793 shares of the company’s stock, valued at approximately $1,807,643.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,820,042 shares of company stock valued at $18,273,107. 6.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boxer Capital LLC increased its position in Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after buying an additional 1,075,000 shares during the last quarter. Mass General Brigham Inc bought a new stake in shares of Tango Therapeutics during the first quarter worth $2,812,000. Fisher Asset Management LLC bought a new stake in shares of Tango Therapeutics in the fourth quarter worth $997,000. Victory Capital Management Inc. acquired a new position in Tango Therapeutics in the fourth quarter valued at $719,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Tango Therapeutics in the fourth quarter valued at $136,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.