Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average PT from Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.14.

Several research firms recently commented on TNGX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. Guggenheim decreased their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. B. Riley cut their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th.

Insiders Place Their Bets

In related news, Director Mace Rothenberg purchased 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $3.78 per share, for a total transaction of $37,800.00. Following the transaction, the director now owns 31,250 shares of the company’s stock, valued at $118,125. This represents a 47.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,338,000 shares of company stock valued at $18,426,160 over the last quarter. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNGX. State Street Corp raised its holdings in shares of Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after purchasing an additional 489,949 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tango Therapeutics during the second quarter valued at $3,836,000. Geode Capital Management LLC boosted its position in shares of Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after purchasing an additional 142,710 shares during the period. Quarry LP purchased a new position in Tango Therapeutics in the 2nd quarter worth about $99,000. Finally, Point72 DIFC Ltd purchased a new stake in Tango Therapeutics during the second quarter valued at about $54,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $3.05 on Friday. Tango Therapeutics has a 12-month low of $2.70 and a 12-month high of $13.01. The company has a market capitalization of $327.62 million, a price-to-earnings ratio of -2.58 and a beta of 0.81. The firm’s fifty day moving average price is $3.67 and its 200 day moving average price is $7.11.

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.