Tango Therapeutics (NASDAQ:TNGX) Trading 7.6% Higher – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) rose 7.6% on Monday . The company traded as high as $9.76 and last traded at $10.0570. Approximately 149,669 shares were traded during trading, a decline of 93% from the average daily volume of 2,126,459 shares. The stock had previously closed at $9.35.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several analyst reports. B. Riley upped their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wolfe Research initiated coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Guggenheim raised their price target on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Tango Therapeutics Trading Down 1.5%

The company has a market capitalization of $1.24 billion, a P/E ratio of -9.93 and a beta of 1.71. The firm’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $7.06.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The business had revenue of $53.81 million during the quarter, compared to the consensus estimate of $41.35 million. Analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the sale, the insider owned 13,386,574 shares in the company, valued at approximately $135,873,726.10. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,340,942 shares of company stock valued at $11,414,949 over the last 90 days. 7.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TNGX. Charles Schwab Investment Management Inc. raised its stake in shares of Tango Therapeutics by 6.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 548,014 shares of the company’s stock worth $751,000 after purchasing an additional 34,585 shares in the last quarter. Deutsche Bank AG raised its position in Tango Therapeutics by 46.7% during the first quarter. Deutsche Bank AG now owns 53,788 shares of the company’s stock worth $74,000 after acquiring an additional 17,135 shares in the last quarter. Invesco Ltd. lifted its stake in Tango Therapeutics by 138.8% in the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock valued at $97,000 after acquiring an additional 40,983 shares during the last quarter. Nuveen LLC bought a new position in shares of Tango Therapeutics in the 1st quarter valued at about $277,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Tango Therapeutics by 2,376.2% during the 1st quarter. Russell Investments Group Ltd. now owns 51,183 shares of the company’s stock worth $73,000 after purchasing an additional 49,116 shares during the last quarter. Institutional investors and hedge funds 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.