Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average Target Price from Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given an average rating of “Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have covered the stock in the last year is $13.14.

A number of research firms recently commented on TNGX. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Guggenheim reduced their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, B. Riley lowered 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 note on Monday, November 11th.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $2.98 on Wednesday. Tango Therapeutics has a fifty-two week low of $2.59 and a fifty-two week high of $12.99. The company has a market capitalization of $320.11 million, a price-to-earnings ratio of -2.53 and a beta of 0.81. The stock has a fifty day moving average of $3.19 and a two-hundred day moving average of $6.26.

Insiders Place Their Bets

In other Tango Therapeutics news, Director Mace Rothenberg purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $3.78 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director now owns 31,250 shares of the company’s stock, valued at approximately $118,125. This represents a 47.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Institutional Trading of Tango Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. boosted its stake in shares of Tango Therapeutics by 9.0% in the fourth quarter. Congress Asset Management Co. now owns 227,989 shares of the company’s stock valued at $704,000 after purchasing an additional 18,919 shares during the period. Catalina Capital Group LLC purchased a new position in Tango Therapeutics in the 4th quarter valued at about $82,000. Barclays PLC grew its stake in shares of Tango Therapeutics by 78.3% during the third quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after acquiring an additional 55,470 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tango Therapeutics by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after acquiring an additional 142,710 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Tango Therapeutics by 340.1% in the third quarter. XTX Topco Ltd now owns 44,191 shares of the company’s stock worth $340,000 after acquiring an additional 34,150 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.