Tango Therapeutics (NASDAQ:TNGX) Sets New 1-Year High – What’s Next?

Tango Therapeutics, Inc. (NASDAQ:TNGX) shares reached a new 52-week high during trading on Thursday . The company traded as high as $12.52 and last traded at $12.39, with a volume of 5099875 shares traded. The stock had previously closed at $10.44.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. B. Riley lifted their target price on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Wolfe Research assumed coverage on shares of Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th. Guggenheim raised their target price on shares of Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Tango Therapeutics Stock Up 18.7%

The business’s 50 day simple moving average is $9.32 and its 200 day simple moving average is $7.87. The company has a market capitalization of $1.67 billion, a PE ratio of -13.32 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. On average, analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total value of $4,845,620.15. Following the completion of the sale, the insider owned 13,386,574 shares in the company, valued at $135,873,726.10. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TNGX. Legal & General Group Plc lifted 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 worth $36,000 after acquiring an additional 1,640 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tango Therapeutics by 44.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares during the period. CWM LLC lifted its position in shares of Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after purchasing an additional 3,167 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of 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 period. Finally, ProShare Advisors LLC grew its position in Tango Therapeutics by 30.1% during the second quarter. ProShare Advisors LLC now owns 19,775 shares of the company’s stock valued at $101,000 after purchasing an additional 4,570 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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.