Tango Therapeutics’ (TNGX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Tango Therapeutics (NASDAQ:TNGX) in a research report report published on Monday morning, Benzinga reports. They currently have a $13.00 price objective on the stock.

Several other equities analysts have also recently issued reports on TNGX. Jefferies Financial Group initiated coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Wedbush upped their price target on 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 reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $5.71 on Monday. The business has a fifty day moving average price of $8.41 and a 200-day moving average price of $8.44. The company has a market capitalization of $610.09 million, a PE ratio of -5.05 and a beta of 0.81. Tango Therapeutics has a 1-year low of $5.62 and a 1-year high of $13.01.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The business had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. On average, sell-side analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total transaction of $288,750.00. Following the completion of the sale, the insider now directly owns 17,176,475 shares in the company, valued at $198,388,286.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.55, for a total value of $288,750.00. Following the transaction, the insider now directly owns 17,176,475 shares in the company, valued at approximately $198,388,286.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the sale, the insider now directly owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,885,400 shares of company stock valued at $15,485,582 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Artal Group S.A. purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at about $17,427,000. Point72 Asset Management L.P. bought a new stake in Tango Therapeutics during the 2nd quarter worth approximately $3,836,000. Vanguard Group Inc. lifted its holdings in Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tango Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock valued at $2,882,000 after purchasing an additional 100,257 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Tango Therapeutics by 110.8% in the fourth quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock worth $1,685,000 after purchasing an additional 89,481 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.