Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $19.50 Consensus Price Target from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.6667.

Several research analysts recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Tango Therapeutics in a report on Thursday. They issued a “buy” rating and a $30.00 price target for the company. HC Wainwright upped their price objective on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday, March 6th. Wedbush increased their price objective on shares of Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research report on Thursday, March 5th.

Insider Buying and Selling at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $21.20, for a total value of $572,400.00. Following the completion of the sale, the insider owned 112,622 shares of the company’s stock, valued at approximately $2,387,586.40. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the sale, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 172,884 shares of company stock valued at $2,538,342. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farallon Capital Management LLC increased its position in shares of Tango Therapeutics by 21.4% during the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after acquiring an additional 2,304,411 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Tango Therapeutics by 322.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the last quarter. Siren L.L.C. increased its holdings in Tango Therapeutics by 38.8% during the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after purchasing an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after purchasing an additional 1,698,974 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Tango Therapeutics by 84.8% in the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock valued at $55,097,000 after purchasing an additional 2,853,362 shares in the last quarter. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $21.63 on Tuesday. The company has a market cap of $3.09 billion, a P/E ratio of -24.86 and a beta of 1.31. The stock has a 50 day simple moving average of $15.14 and a two-hundred day simple moving average of $11.18. Tango Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $22.20.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. On average, research analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

Tango Therapeutics Company Profile

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.