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

Tango Therapeutics, Inc. (NASDAQ:TNGX) has 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 objective among analysts that have covered the stock in the last year is $13.14.

TNGX has been the subject of several recent research reports. B. Riley decreased their target price on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Guggenheim cut their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th.

Insider Activity at Tango Therapeutics

In other news, Director Mace Rothenberg purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $3.78 per share, for a total transaction of $37,800.00. Following the completion of the purchase, the director now directly owns 31,250 shares of the company’s stock, valued at approximately $118,125. The trade was a 47.06 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the sale, the insider now owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,338,000 shares of company stock worth $18,426,160 in the last 90 days. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $1,215,000 after acquiring an additional 15,373 shares during the period. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $90,000. Dimensional Fund Advisors LP boosted its holdings in Tango Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after purchasing an additional 100,257 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at approximately $54,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Tango Therapeutics by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after buying an additional 2,218 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX opened at $3.23 on Friday. The business has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $6.99. Tango Therapeutics has a 52 week low of $2.70 and a 52 week high of $13.01. The stock has a market cap of $346.96 million, a price-to-earnings ratio of -2.74 and a beta of 0.81.

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.