Tango Therapeutics (NASDAQ:TNGX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Tango Therapeutics (NASDAQ:TNGX) from a sell rating to a strong sell rating in a report released on Saturday morning.

TNGX has been the topic of a number of other research reports. Canaccord Genuity Group lifted their price objective on Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Mizuho raised their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, July 17th. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Leerink Partners upped their price target on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus increased their price objective on shares of Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.31.

Tango Therapeutics Trading Down 1.2%

Shares of TNGX opened at $25.29 on Friday. The business’s 50 day moving average is $28.81 and its 200 day moving average is $22.41. The company has a market capitalization of $4.26 billion, a PE ratio of -29.75 and a beta of 1.16. Tango Therapeutics has a 12-month low of $6.25 and a 12-month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). Equities research analysts predict that Tango Therapeutics will post -1.36 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several hedge funds have recently added to or reduced their stakes in TNGX. Farallon Capital Management LLC grew its stake 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 valued at $115,724,000 after buying an additional 2,304,411 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Tango Therapeutics during the 2nd quarter worth approximately $388,826,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of 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 worth $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Siren L.L.C. lifted its stake in shares of 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 acquiring an additional 2,282,186 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after acquiring an additional 1,698,974 shares during the period. 78.99% of the stock is currently 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.