Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average Price Target from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.14.

TNGX has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Friday, November 8th. B. Riley cut their target price on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Guggenheim lowered 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.

Insider Activity at Tango Therapeutics

In other news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction 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 sale, the insider now owns 3,610,642 shares of the company’s stock, valued at $11,337,415.88. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mace Rothenberg acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $3.62 per share, for a total transaction of $36,200.00. Following the completion of the acquisition, the director now owns 21,250 shares of the company’s stock, valued at $76,925. This trade represents a 88.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TNGX. Point72 DIFC Ltd acquired a new stake in Tango Therapeutics in the 2nd quarter valued at approximately $54,000. Catalina Capital Group LLC bought a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $82,000. 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 stake in shares of Tango Therapeutics in the second quarter worth $99,000. Finally, SG Americas Securities LLC bought a new stake in shares of Tango Therapeutics in the third quarter worth $151,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $2.98 on Wednesday. The firm has a 50 day simple moving average of $3.20 and a 200 day simple moving average of $6.33. Tango Therapeutics has a fifty-two week low of $2.59 and a fifty-two week high of $12.99. The firm has a market cap of $320.11 million, a P/E ratio of -2.53 and a beta of 0.81.

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.