Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 3%

Tango Therapeutics, Inc. (NASDAQ:TNGX) shot up 3% during mid-day trading on Wednesday . The company traded as high as $8.92 and last traded at $8.88. 19,843 shares were traded during trading, a decline of 97% from the average session volume of 725,387 shares. The stock had previously closed at $8.62.

Analyst Ratings Changes

Several research analysts have issued reports on TNGX shares. Barclays decreased their target price 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. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Stock Performance

The company has a market capitalization of $924.22 million, a P/E ratio of -7.63 and a beta of 0.84. The company’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $8.79.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The business had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. On average, sell-side analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction 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 approximately $182,596,266.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the transaction, the insider now owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mva Investors, Llc sold 110,731 shares of the company’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 transaction of $982,183.97. Following the completion of the transaction, the insider now owns 203,793 shares in the company, valued at $1,807,643.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,820,042 shares of company stock valued at $18,273,107. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in Tango Therapeutics during the 4th quarter worth approximately $719,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $237,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $136,000. RTW Investments LP purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at about $19,471,000. Finally, Braslyn Ltd. purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at about $267,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.