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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $15.14.

Several brokerages recently commented on TNGX. Wedbush boosted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Barclays cut their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th.

Insider Transactions at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total transaction of $288,750.00. Following the completion of the sale, the insider now owns 17,176,475 shares of the company’s stock, valued at $198,388,286.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the sale, the insider now owns 17,176,475 shares of the company’s stock, valued at $198,388,286.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mva Investors, Llc sold 29,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.57, for a total transaction of $248,530.00. Following the completion of the sale, the insider now directly owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The disclosure for this sale can be found here. Insiders sold 1,565,642 shares of company stock valued at $15,122,505 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after purchasing an additional 1,426 shares during the period. The Manufacturers Life Insurance Company lifted its position in Tango Therapeutics by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock valued at $253,000 after buying an additional 2,218 shares during the last quarter. SG Americas Securities LLC lifted its position in Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after buying an additional 4,203 shares during the last quarter. AJOVista LLC acquired a new position in Tango Therapeutics in the fourth quarter valued at about $61,000. Finally, Point72 DIFC Ltd acquired a new position in Tango Therapeutics in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

TNGX opened at $11.83 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of -10.47 and a beta of 0.83. The firm has a fifty day moving average price of $9.67 and a 200 day moving average price of $8.92. Tango Therapeutics has a 1 year low of $5.15 and a 1 year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Equities analysts expect that Tango Therapeutics will post -1.33 EPS 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.