Wedbush Cuts Tango Therapeutics (NASDAQ:TNGX) Price Target to $11.00

Tango Therapeutics (NASDAQ:TNGXFree Report) had its target price decreased by Wedbush from $18.00 to $11.00 in a report released on Thursday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Piper Sandler assumed coverage on Tango Therapeutics in a report on Monday, February 12th. They set an overweight rating and a $18.00 price target for the company. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a report on Thursday, April 4th. They set an overweight rating for the company. Finally, HC Wainwright reiterated a buy rating and set a $17.00 price target on shares of Tango Therapeutics in a report on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $14.83.

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Tango Therapeutics Trading Down 2.5 %

Shares of NASDAQ TNGX opened at $6.91 on Thursday. Tango Therapeutics has a one year low of $2.47 and a one year high of $13.03. The firm has a market capitalization of $738.33 million, a PE ratio of -6.12 and a beta of 0.84. The business has a 50-day moving average price of $7.61 and a two-hundred day moving average price of $9.29.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The business had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. Research analysts anticipate that Tango Therapeutics will post -1.33 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, insider Mva Investors, Llc sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total value of $456,600.00. Following the transaction, the insider now directly owns 483,524 shares of the company’s stock, valued at approximately $3,679,617.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of Tango Therapeutics in the 4th quarter valued at approximately $61,000. Paloma Partners Management Co bought a new position in Tango Therapeutics in the 1st quarter worth approximately $80,000. Cowen AND Company LLC bought a new position in Tango Therapeutics in the 4th quarter worth approximately $99,000. Price T Rowe Associates Inc. MD increased its position in Tango Therapeutics by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Tango Therapeutics by 421.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock worth $117,000 after buying an additional 9,530 shares during the period. 78.99% of the stock is owned by institutional investors.

About Tango Therapeutics

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Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.

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Analyst Recommendations for Tango Therapeutics (NASDAQ:TNGX)

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