B. Riley Lowers Tango Therapeutics (NASDAQ:TNGX) Price Target to $8.00

Tango Therapeutics (NASDAQ:TNGX) had its price target cut by investment analysts at B. Riley from $16.00 to $8.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 138.81% from the stock’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. Wedbush raised their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Guggenheim decreased their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tango Therapeutics has an average rating of “Buy” and a consensus price target of $13.14.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $3.35 on Monday. The business has a 50 day moving average price of $7.24 and a 200 day moving average price of $8.26. Tango Therapeutics has a 1-year low of $2.70 and a 1-year high of $13.01. The company has a market capitalization of $359.86 million, a P/E ratio of -2.86 and a beta of 0.88.

Insider Activity at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total value of $9,671,200.00. Following the completion of the transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of Tango Therapeutics stock in a transaction dated Tuesday, August 27th. The stock was 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 approximately $198,388,286.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,965,400 shares of company stock worth $25,156,782. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TNGX. Charles Schwab Investment Management Inc. increased its stake in shares of Tango Therapeutics by 18.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock worth $3,752,000 after purchasing an additional 76,540 shares during the period. Intech Investment Management LLC bought a new position in Tango Therapeutics in the third quarter valued at about $238,000. Quest Partners LLC lifted its stake in shares of Tango Therapeutics by 1,448.4% in the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after acquiring an additional 10,182 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Tango Therapeutics during the third quarter worth $349,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Tango Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $159,000 after acquiring an additional 8,055 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.