Tango Therapeutics (NASDAQ:TNGX) Trading Up 3.7%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price was up 3.7% during mid-day trading on Monday . The stock traded as high as $9.36 and last traded at $9.26. Approximately 80,755 shares were traded during trading, a decline of 87% from the average daily volume of 625,456 shares. The stock had previously closed at $8.93.

Analyst Ratings Changes

Several analysts have issued reports on TNGX shares. HC Wainwright cut their price target on Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Barclays dropped their price objective on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Wedbush dropped their price objective on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.17.

Tango Therapeutics Price Performance

The business has a 50-day simple moving average of $7.51 and a 200-day simple moving average of $9.27. The firm has a market capitalization of $1.02 billion, a PE ratio of -8.44 and a beta of 0.79.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The business had revenue of $6.47 million during the quarter, compared to analysts’ expectations of $7.13 million. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.31 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Mva Investors, Llc sold 60,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total value of $456,600.00. Following the sale, the insider now directly owns 483,524 shares in the company, valued at $3,679,617.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have sold 198,000 shares of company stock worth $1,469,970. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boxer Capital LLC grew its stake in Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tango Therapeutics by 205.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock valued at $4,136,000 after acquiring an additional 247,234 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Tango Therapeutics during the 3rd quarter valued at $653,000. FMR LLC boosted its position in Tango Therapeutics by 12.3% during the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after acquiring an additional 1,276,945 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Tango Therapeutics by 47.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock valued at $19,760,000 after acquiring an additional 564,971 shares in the last quarter. 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.