Tango Therapeutics (NASDAQ:TNGX) Rating Reiterated by HC Wainwright

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 40.85% from the stock’s current price.

TNGX has been the subject of several other research reports. Cantor Fitzgerald started coverage on Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating for the company. Barclays lowered their price objective on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Wedbush decreased their price target on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $14.17.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $9.23 on Tuesday. Tango Therapeutics has a 12-month low of $2.88 and a 12-month high of $13.03. The firm has a market capitalization of $986.23 million, a price-to-earnings ratio of -8.05 and a beta of 0.83. The business has a 50 day simple moving average of $7.97 and a 200 day simple moving average of $9.22.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The business had revenue of $6.47 million for the quarter, compared to analyst estimates of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. On average, equities analysts anticipate that Tango Therapeutics will post -1.31 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $8.87, for a total transaction of $982,183.97. Following the sale, the insider now directly owns 203,793 shares of the company’s stock, valued at approximately $1,807,643.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 337,731 shares of company stock valued at $2,700,684 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several large investors have recently added to or reduced their stakes in the business. AJOVista LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at $61,000. Paloma Partners Management Co bought a new position in Tango Therapeutics during the first quarter valued at about $80,000. Cowen AND Company LLC acquired a new stake in shares of Tango Therapeutics in the fourth quarter worth about $99,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after acquiring an additional 1,426 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Tango Therapeutics by 421.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after acquiring an additional 9,530 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

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.