Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.8571.

Several research firms have recently commented on TNGX. Wall Street Zen upgraded Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. B. Riley Financial raised their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Mizuho initiated coverage on shares of Tango Therapeutics in a research note on Monday, February 23rd. They set an “outperform” rating and a $19.00 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research report on Thursday.

Tango Therapeutics Stock Up 36.0%

TNGX opened at $16.80 on Friday. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $16.97. The business has a 50 day moving average price of $11.70 and a two-hundred day moving average price of $9.37. The company has a market cap of $2.26 billion, a PE ratio of -18.06 and a beta of 1.76.

Insider Activity

In related news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the sale, the director directly owned 1,629,254 shares in the company, valued at $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniella Beckman sold 10,317 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the transaction, the chief financial officer directly owned 184,297 shares in the company, valued at $2,259,481.22. This represents a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 113,633 shares of company stock valued at $1,420,857 in the last three months. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of Tango Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after buying an additional 3,167 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after acquiring an additional 15,037 shares during the period. Legal & General Group Plc increased its stake in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Tango Therapeutics by 78.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock worth $40,000 after purchasing an additional 3,452 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.