Analysts Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Price Target at $12.33

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.33.

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

Insider Buying and Selling

In related news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the transaction, the chief executive officer now directly owns 1,631,264 shares in the company, valued at $4,877,479.36. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 24,268 shares of company stock worth $72,561 in the last three months. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently bought and sold shares of the company. TCG Crossover Management LLC purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $33,174,000. Boxer Capital Management LLC purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $32,077,000. Gilead Sciences Inc. purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $15,000,000. Farallon Capital Management LLC purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $12,360,000. Finally, Balyasny Asset Management L.P. grew its position in Tango Therapeutics by 22.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company’s stock valued at $10,133,000 after purchasing an additional 592,000 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $2.18 on Friday. Tango Therapeutics has a fifty-two week low of $2.17 and a fifty-two week high of $12.02. The stock has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $5.38. The stock has a market cap of $234.17 million, a P/E ratio of -1.85 and a beta of 0.80.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. Sell-side analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

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.