Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Price Target at $15.14

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned a consensus rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $15.14.

Several research firms recently commented on TNGX. Wedbush boosted their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th.

Insider Activity at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the transaction, the insider now owns 7,573,642 shares in the company, valued at $53,394,176.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 625,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the completion of the sale, the insider now directly owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the sale, the insider now directly owns 17,351,475 shares of the company’s stock, valued at approximately $169,870,940.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,292,400 shares of company stock worth $11,528,872 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Tango Therapeutics in the third quarter worth $151,000. Point72 DIFC Ltd bought a new position in shares of Tango Therapeutics during the second quarter worth $54,000. Point72 Asset Management L.P. bought a new position in shares of Tango Therapeutics during the second quarter worth $3,836,000. Quarry LP bought a new position in shares of Tango Therapeutics during the second quarter worth $99,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of Tango Therapeutics by 82.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 62,417 shares of the company’s stock worth $536,000 after acquiring an additional 28,155 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Price Performance

NASDAQ:TNGX opened at $6.27 on Monday. Tango Therapeutics has a one year low of $6.12 and a one year high of $13.01. The company’s 50-day simple moving average is $8.85 and its 200 day simple moving average is $8.49. The firm has a market capitalization of $669.92 million, a P/E ratio of -5.55 and a beta of 0.81.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The business had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. On average, equities research analysts expect that Tango Therapeutics will post -1.27 earnings per share for the current fiscal year.

About Tango Therapeutics

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.