Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $68.00

Tango Therapeutics (NASDAQ:TNGX) had its target price upped by HC Wainwright from $66.00 to $68.00 in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 168.88% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group set a $55.00 price target on shares of Tango Therapeutics in a research report on Thursday, May 14th. Raymond James Financial cut shares of Tango Therapeutics to a “hold” rating in a research note on Thursday, June 25th. Piper Sandler lowered shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $24.00 in a report on Thursday, May 14th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Finally, Guggenheim increased their price target on Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.46.

Tango Therapeutics Stock Down 1.2%

Tango Therapeutics stock opened at $25.29 on Tuesday. The business’s 50-day simple moving average is $28.81 and its 200 day simple moving average is $22.41. The stock has a market cap of $4.26 billion, a price-to-earnings 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 data on Monday, August 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, sell-side analysts expect that Tango Therapeutics will post -1.36 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNGX. Mass General Brigham Inc acquired a new stake in Tango Therapeutics during the 4th quarter worth $3,138,000. Handelsbanken Fonder AB acquired a new position in Tango Therapeutics in the second quarter valued at about $9,000,000. Assenagon Asset Management S.A. bought a new stake in shares of Tango Therapeutics in the second quarter worth about $10,790,000. Candriam S.C.A. increased its holdings in shares of Tango Therapeutics by 79.1% in the first quarter. Candriam S.C.A. now owns 1,269,246 shares of the company’s stock worth $26,553,000 after acquiring an additional 560,434 shares in the last quarter. Finally, Tema ETFs LLC bought a new stake in shares of Tango Therapeutics in the second quarter worth about $1,731,000. 78.99% of the stock is owned by institutional investors.

About Tango Therapeutics

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.