Tango Therapeutics (NASDAQ:TNGX) Price Target Lowered to $8.00 at Guggenheim

Tango Therapeutics (NASDAQ:TNGX) had its price objective trimmed by Guggenheim from $18.00 to $8.00 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Wedbush increased their price objective on shares of 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 assumed coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics has an average rating of “Buy” and an average target price of $14.29.

Tango Therapeutics Stock Up 4.2 %

Shares of TNGX stock traded up $0.12 on Thursday, hitting $2.95. The stock had a trading volume of 7,508,050 shares, compared to its average volume of 913,485. The company has a market cap of $316.07 million, a PE ratio of -2.39 and a beta of 0.88. The business has a 50 day moving average price of $7.59 and a 200 day moving average price of $8.31. Tango Therapeutics has a one year low of $2.71 and a one year high of $13.01.

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

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the sale, the insider now owns 17,351,475 shares of the company’s stock, valued at approximately $169,870,940.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the sale, the insider now owns 17,351,475 shares in the company, valued at $169,870,940.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,965,400 shares of company stock valued at $25,156,782 over the last quarter. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics during the second quarter worth about $54,000. Paloma Partners Management Co acquired a new stake in Tango Therapeutics in the first quarter valued at approximately $80,000. Quest Partners LLC lifted its position in shares of Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after purchasing an additional 10,182 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics during the 2nd quarter valued at $90,000. Finally, Quarry LP acquired a new position in shares of Tango Therapeutics in the second quarter worth about $99,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.