Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of “Buy” by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average rating of “Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $13.14.

A number of equities analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Friday, November 8th. Guggenheim cut their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Wedbush increased 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. Finally, B. Riley cut their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $3.85 on Friday. The firm has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $8.12. Tango Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $13.01. The company has a market cap of $413.57 million, a P/E ratio of -3.30 and a beta of 0.88.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total transaction of $288,750.00. Following the transaction, the insider now directly owns 17,176,475 shares in the company, valued at $198,388,286.25. The trade was a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the sale, the insider now directly owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,680,400 shares of company stock valued at $22,321,632 in the last 90 days. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Artal Group S.A. acquired a new stake in Tango Therapeutics during the first quarter worth about $17,427,000. State Street Corp increased its holdings in shares of Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after buying an additional 489,949 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tango Therapeutics during the 2nd quarter valued at approximately $3,836,000. Geode Capital Management LLC lifted its holdings in Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after acquiring an additional 142,710 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Tango Therapeutics in the third quarter valued at approximately $1,098,000. 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.