Tango Therapeutics (NASDAQ:TNGX) Hits New 12-Month High – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $32.85 and last traded at $32.69, with a volume of 1031777 shares changing hands. The stock had previously closed at $30.94.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TNGX shares. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. UBS Group set a $55.00 price objective on shares of Tango Therapeutics in a report on Thursday, May 14th. Mizuho set a $36.00 price objective on shares of Tango Therapeutics in a report on Monday, June 8th. HC Wainwright lifted their price objective on shares of Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.42.

Tango Therapeutics Stock Up 4.0%

The firm’s 50-day moving average price is $23.46 and its 200-day moving average price is $16.41. The company has a market cap of $4.65 billion, a P/E ratio of -39.01 and a beta of 1.19.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) 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, analysts forecast that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $22.87, for a total transaction of $617,490.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,647,042.41. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 131,460 shares of company stock worth $2,965,920. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DV Trading LLC bought a new stake in Tango Therapeutics during the 1st quarter worth approximately $6,290,000. Perceptive Advisors LLC increased its holdings in Tango Therapeutics by 57.5% during the 1st quarter. Perceptive Advisors LLC now owns 808,153 shares of the company’s stock worth $16,907,000 after acquiring an additional 295,118 shares during the period. Stempoint Capital LP bought a new stake in Tango Therapeutics during the 1st quarter worth approximately $4,203,000. The Manufacturers Life Insurance Company increased its holdings in Tango Therapeutics by 234.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 108,218 shares of the company’s stock worth $2,264,000 after acquiring an additional 75,876 shares during the period. Finally, SummitTX Capital L.P. bought a new stake in Tango Therapeutics during the 1st quarter worth approximately $262,000. 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.