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

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.4615.

TNGX has been the topic of a number of recent analyst reports. Guggenheim lifted their price target on Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. UBS Group set a $55.00 price objective on Tango Therapeutics in a research note on Thursday, May 14th. Raymond James Financial lowered Tango Therapeutics to a “hold” rating in a research report on Thursday, June 25th. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, HC Wainwright lifted their target price on Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th.

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $25.28 on Friday. Tango Therapeutics has a 52 week low of $6.25 and a 52 week high of $34.39. The firm has a 50-day moving average price of $27.84 and a two-hundred day moving average price of $23.13. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -29.74 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, sell-side analysts forecast that Tango Therapeutics will post -1.38 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Tango Therapeutics in the second quarter valued at approximately $388,826,000. Adage Capital Partners GP L.L.C. increased its position in Tango Therapeutics by 322.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after buying an additional 8,096,924 shares during the last quarter. TRV GP IV LLC bought a new stake in shares of Tango Therapeutics in the second quarter valued at $120,181,383,000. Jupiter Topco LLC purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at $157,989,000. Finally, Caligan Partners LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $33,047,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.