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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned an average rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.14.

TNGX has been the subject of a number of research reports. Barclays decreased their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Jefferies Financial Group started coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Wedbush upped their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Guggenheim upgraded Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th.

Insider Buying and Selling

In other news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the transaction, the insider now owns 17,001,475 shares of the company’s stock, valued at $197,217,110. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the completion of the sale, the insider now directly owns 17,001,475 shares in the company, valued at $197,217,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mva Investors, Llc sold 110,731 shares of Tango Therapeutics stock in a transaction dated Monday, July 1st. The stock was 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 owns 203,793 shares in the company, valued at $1,807,643.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,677,642 shares of company stock worth $16,696,385. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of the business. AJOVista LLC acquired a new position in Tango Therapeutics during the 4th quarter valued at $61,000. Point72 DIFC Ltd bought a new position in shares of Tango Therapeutics during the 2nd quarter worth about $54,000. Cowen AND Company LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter valued at about $99,000. Paloma Partners Management Co bought a new stake in shares of Tango Therapeutics in the first quarter valued at about $80,000. Finally, Principal Financial Group Inc. acquired a new stake in Tango Therapeutics during the second quarter worth about $90,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Trading Down 6.8 %

NASDAQ:TNGX opened at $10.89 on Friday. The business’s fifty day moving average price is $9.88 and its 200 day moving average price is $8.90. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -9.64 and a beta of 0.84. Tango Therapeutics has a 1-year low of $5.15 and a 1-year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The company had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. Equities analysts forecast that Tango Therapeutics will post -1.31 earnings per share for the current year.

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.