Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned a consensus rating of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.50.

Several research analysts recently issued reports on TNGX shares. Guggenheim raised their target price on shares of Tango Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday. They set an “overweight” rating and a $11.00 target price for the company.

Tango Therapeutics Trading Down 1.6%

NASDAQ TNGX opened at $6.90 on Monday. The company has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $3.44. The stock has a market cap of $767.69 million, a P/E ratio of -5.19 and a beta of 1.64. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.35). The business had revenue of $3.18 million during the quarter, compared to analysts’ expectations of $6.41 million. Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. As a group, sell-side analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $7.01, for a total transaction of $7,711,000.00. Following the completion of the transaction, the insider owned 15,759,075 shares of the company’s stock, valued at $110,471,115.75. This trade represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. TCG Crossover Management LLC purchased a new position in shares of Tango Therapeutics during the fourth quarter worth $33,174,000. Boxer Capital Management LLC acquired a new stake in Tango Therapeutics during the fourth quarter valued at $32,077,000. Adage Capital Partners GP L.L.C. acquired a new stake in Tango Therapeutics during the second quarter valued at $30,235,000. Farallon Capital Management LLC acquired a new stake in Tango Therapeutics during the fourth quarter valued at $12,360,000. Finally, Nantahala Capital Management LLC grew its position in Tango Therapeutics by 15.1% during the second quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock valued at $17,611,000 after buying an additional 451,611 shares during the period. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.