Tango Therapeutics (NASDAQ:TNGX) Stock Rating Reaffirmed by HC Wainwright

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 34.16% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TNGX. Barclays dropped their price objective 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. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Wedbush upped their price target on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Stock Up 6.6 %

NASDAQ:TNGX opened at $9.69 on Tuesday. Tango Therapeutics has a 52 week low of $5.15 and a 52 week high of $13.03. The stock’s fifty day moving average is $9.93 and its two-hundred day moving average is $8.86. The company has a market capitalization of $1.04 billion, a P/E ratio of -8.58 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last released 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 business had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. Sell-side analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tango Therapeutics news, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.87, for a total value of $982,183.97. Following the completion of the sale, the insider now owns 203,793 shares in the company, valued at $1,807,643.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total value of $5,386,174.09. Following the completion of the sale, the insider now directly owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,752,642 shares of company stock worth $17,563,385 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in Tango Therapeutics during the 2nd quarter worth $3,836,000. Quarry LP purchased a new position in shares of Tango Therapeutics during the second quarter worth about $99,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Tango Therapeutics by 82.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock worth $536,000 after buying an additional 28,155 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Tango Therapeutics by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock valued at $253,000 after acquiring an additional 2,218 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Tango Therapeutics during the 2nd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.