Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) PT at $15.14

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.14.

TNGX has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Wedbush increased their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Tuesday, September 10th.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $9.78, for a total transaction of $2,569,597.20. Following the sale, the insider now directly owns 18,197,074 shares in the company, valued at approximately $177,967,383.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,680,311 shares of company stock worth $17,042,393. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Tango Therapeutics during the fourth quarter worth $136,000. RTW Investments LP acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth about $19,471,000. Braslyn Ltd. bought a new position in Tango Therapeutics during the 4th quarter valued at about $267,000. Boxer Capital LLC grew its stake in Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after buying an additional 1,075,000 shares during the last quarter. Finally, Old Well Partners LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth approximately $182,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Trading Down 3.3 %

NASDAQ TNGX opened at $7.04 on Thursday. Tango Therapeutics has a 1 year low of $5.15 and a 1 year high of $13.03. The company has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $8.59. The company has a market cap of $752.20 million, a P/E ratio of -6.23 and a beta of 0.84.

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

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.