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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned an average rating of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $15.14.

TNGX has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Wedbush increased 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. Jefferies Financial Group began coverage on Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th.

Insider Transactions at Tango Therapeutics

In related news, insider Mva Investors, Llc sold 110,731 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 203,793 shares in the company, valued at $1,807,643.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $9.78, for a total value of $2,569,597.20. Following the completion of the transaction, the insider now directly owns 18,197,074 shares of the company’s stock, valued at approximately $177,967,383.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $8.87, for a total value of $982,183.97. Following the completion of the transaction, the insider now directly owns 203,793 shares in the company, valued at $1,807,643.91. The disclosure for this sale can be found here. Insiders sold 1,820,042 shares of company stock worth $18,273,107 over the last ninety days. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TNGX. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at about $136,000. RTW Investments LP acquired a new stake in Tango Therapeutics in the fourth quarter valued at approximately $19,471,000. Braslyn Ltd. bought a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $267,000. Boxer Capital LLC raised its position in shares of 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 purchasing an additional 1,075,000 shares during the period. Finally, Old Well Partners LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter worth approximately $182,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Stock Down 0.3 %

Shares of TNGX stock opened at $7.43 on Thursday. The business has a fifty day simple moving average of $9.78 and a 200 day simple moving average of $8.67. The company has a market cap of $793.87 million, a P/E ratio of -6.58 and a beta of 0.84. Tango Therapeutics has a twelve month low of $5.15 and a twelve month high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current fiscal year.

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.