Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.00.

A number of analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th. Guggenheim increased their price target on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. B. Riley raised their price target on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th.

Tango Therapeutics Trading Up 18.7%

Shares of TNGX opened at $12.39 on Thursday. The business’s 50 day moving average is $9.32 and its 200 day moving average is $7.87. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $12.52. The company has a market capitalization of $1.67 billion, a PE ratio of -13.32 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) 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 analyst estimates of $41.35 million. Equities research analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the completion of the transaction, the insider owned 13,386,574 shares in the company, valued at $135,873,726.10. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.50% of the stock is currently owned by insiders.

Institutional Trading of Tango Therapeutics

Several hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. purchased a new position in Tango Therapeutics in the second quarter worth about $30,235,000. Paradigm Biocapital Advisors LP bought a new stake in shares of Tango Therapeutics in the 3rd quarter valued at approximately $25,924,000. Farallon Capital Management LLC boosted its holdings in shares of Tango Therapeutics by 17.5% in the 3rd quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock worth $90,359,000 after purchasing an additional 1,600,000 shares during the period. Commodore Capital LP purchased a new position in shares of Tango Therapeutics in the 2nd quarter worth approximately $7,680,000. Finally, Deep Track Capital LP bought a new position in shares of Tango Therapeutics during the 3rd quarter valued at approximately $12,218,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.