Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of “Buy” by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average rating of “Buy” from the eight analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.14.

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, September 10th. Jefferies Financial Group started coverage on Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective for the company. Wedbush lifted their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $9.82, for a total value of $1,964,000.00. Following the completion of the sale, the insider now owns 17,872,074 shares in the company, valued at $175,503,766.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 867,400 shares of company stock valued at $9,086,622 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics during the 2nd quarter worth $54,000. Paloma Partners Management Co purchased a new position in Tango Therapeutics in the first quarter valued at about $80,000. Principal Financial Group Inc. acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at approximately $90,000. Quarry LP purchased a new stake in shares of Tango Therapeutics during the 2nd quarter worth approximately $99,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Tango Therapeutics by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after acquiring an additional 1,426 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Up 6.6 %

Shares of TNGX opened at $7.46 on Monday. The company has a market capitalization of $797.07 million, a price-to-earnings ratio of -6.60 and a beta of 0.81. Tango Therapeutics has a 52-week low of $6.33 and a 52-week high of $13.01. The stock has a 50 day moving average price of $8.98 and a 200 day moving average price of $8.51.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating 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 firm had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. On average, equities analysts anticipate that Tango Therapeutics will post -1.27 EPS for the current fiscal 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.