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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $13.14.

TNGX has been the topic of several research analyst reports. Wedbush raised their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Guggenheim reduced their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. B. Riley cut 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $10.09, for a total transaction of $1,513,500.00. Following the completion of the sale, the insider now owns 17,201,475 shares in the company, valued at $173,562,882.75. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the sale, the insider now directly owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. The trade was a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,830,400 shares of company stock valued at $23,835,132 in the last three months. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tango Therapeutics

Hedge funds have recently modified their holdings of the business. Artal Group S.A. acquired a new position in Tango Therapeutics during the 1st quarter worth about $17,427,000. Point72 Asset Management L.P. acquired a new stake in shares of Tango Therapeutics during the second quarter worth about $3,836,000. Walleye Capital LLC acquired a new stake in Tango Therapeutics during the 3rd quarter worth approximately $1,098,000. Vanguard Group Inc. boosted its position in Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Tango Therapeutics by 42.5% in the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock worth $2,882,000 after acquiring an additional 100,257 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Up 10.1 %

NASDAQ:TNGX opened at $3.92 on Friday. Tango Therapeutics has a 52 week low of $2.70 and a 52 week high of $13.01. The stock’s 50-day moving average price is $6.94 and its 200-day moving average price is $8.20. The stock has a market capitalization of $421.09 million, a PE ratio of -3.32 and a beta of 0.88.

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.