Wolfe Research Upgrades Tango Therapeutics (NASDAQ:TNGX) to “Outperform”

Tango Therapeutics (NASDAQ:TNGX) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports.

A number of other equities research analysts also recently commented on TNGX. Wedbush lifted their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. HC Wainwright increased their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Leerink Partners increased their target price on shares of Tango Therapeutics from $28.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Guggenheim raised their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.27.

Tango Therapeutics Stock Performance

Shares of TNGX stock traded up $8.67 on Monday, reaching $28.89. 12,287,389 shares of the company were exchanged, compared to its average volume of 3,284,735. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -35.17 and a beta of 1.19. The business has a 50-day moving average price of $22.43 and a 200 day moving average price of $15.66. Tango Therapeutics has a 1 year low of $3.77 and a 1 year high of $30.50.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. As a group, equities analysts anticipate that Tango Therapeutics will post -1.29 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.87, for a total value of $617,490.00. Following the sale, the insider owned 115,743 shares in the company, valued at approximately $2,647,042.41. The trade was a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 131,460 shares of company stock valued at $2,965,920. Insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TNGX. Adage Capital Partners GP L.L.C. increased its stake in shares of Tango Therapeutics by 322.5% in 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 acquiring an additional 8,096,924 shares during the last quarter. Caligan Partners LP bought a new stake in Tango Therapeutics during the 4th quarter worth approximately $33,047,000. Goldman Sachs Group Inc. increased its stake in Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after purchasing an additional 3,432,939 shares in the last quarter. Logos Global Management LP increased its stake in Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after purchasing an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new stake in Tango Therapeutics during the 3rd quarter worth approximately $25,924,000. 78.99% of the stock is owned by institutional investors.

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.