HC Wainwright Reaffirms Buy Rating for Tango Therapeutics (NASDAQ:TNGX)

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $13.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 371.01% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Guggenheim dropped 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 note on Thursday. Finally, Wedbush increased their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Tango Therapeutics has an average rating of “Buy” and a consensus target price of $14.29.

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX traded down $0.07 during mid-day trading on Friday, hitting $2.76. The stock had a trading volume of 2,678,585 shares, compared to its average volume of 891,229. The firm has a market cap of $295.72 million, a P/E ratio of -2.39 and a beta of 0.88. The business has a 50 day moving average price of $7.59 and a two-hundred day moving average price of $8.31. Tango Therapeutics has a 1 year low of $2.72 and a 1 year high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.07. The business had revenue of $11.61 million during the quarter, compared to analysts’ expectations of $8.04 million. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. Equities research analysts predict that Tango Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of the 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 sale, the insider now directly owns 17,201,475 shares in the company, valued at $173,562,882.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the completion of the transaction, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.09, for a total value of $1,513,500.00. Following the transaction, the insider now directly owns 17,201,475 shares in the company, valued at approximately $173,562,882.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,965,400 shares of company stock valued at $25,156,782. 6.30% of the stock is owned by insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after purchasing an additional 101,673 shares in the last quarter. Artal Group S.A. purchased a new stake in shares of Tango Therapeutics in the first quarter valued at approximately $17,427,000. Point72 Asset Management L.P. purchased a new position in Tango Therapeutics in the second quarter worth $3,836,000. Dimensional Fund Advisors LP raised its position in shares of Tango Therapeutics by 42.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock worth $2,882,000 after purchasing an additional 100,257 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Tango Therapeutics by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 141,623 shares of the company’s stock valued at $1,215,000 after buying an additional 15,373 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.