Cantor Fitzgerald Reaffirms “Overweight” Rating for Tango Therapeutics (NASDAQ:TNGX)

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports.

Several other equities research analysts have also commented on the company. Wedbush upped their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. B. Riley cut their price target on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Guggenheim lowered their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.14.

Tango Therapeutics Trading Down 2.4 %

Shares of TNGX opened at $3.39 on Thursday. The firm’s fifty day simple moving average is $5.20 and its two-hundred day simple moving average is $7.74. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01. The stock has a market capitalization of $363.61 million, a P/E ratio of -2.87 and a beta of 0.74.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the transaction, the insider now owns 16,859,075 shares of the company’s stock, valued at approximately $177,526,059.75. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the transaction, the insider now owns 3,610,642 shares of the company’s stock, valued at $11,337,415.88. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,405,400 shares of company stock valued at $19,135,882 over the last ninety days. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNGX. Point72 DIFC Ltd bought a new stake in Tango Therapeutics during the second quarter worth $54,000. Principal Financial Group Inc. bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth $90,000. Quest Partners LLC raised its holdings in shares of Tango Therapeutics by 1,448.4% in the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after purchasing an additional 10,182 shares during the last quarter. Quarry LP bought a new position in shares of Tango Therapeutics during the second quarter valued at about $99,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

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.