HC Wainwright Reaffirms Buy Rating for Tango Therapeutics (NASDAQ:TNGX)

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 116.67% from the stock’s current price.

A number of other research firms have also weighed in on TNGX. 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. Wedbush lifted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Trading Up 1.4 %

Shares of Tango Therapeutics stock opened at $6.00 on Monday. The firm has a market capitalization of $641.08 million, a PE ratio of -5.31 and a beta of 0.81. Tango Therapeutics has a twelve month low of $5.62 and a twelve month high of $13.01. The firm’s 50-day moving average price is $8.51 and its 200 day moving average price is $8.45.

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

Insider Activity at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $6.87, for a total value of $4,348,710.00. Following the completion of the sale, the insider now owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.79, for a total value of $1,321,650.00. Following the completion of the transaction, the insider now owns 17,351,475 shares in the company, valued at $169,870,940.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Boxer Capital Management, Llc sold 633,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the completion of the transaction, the insider now owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,925,400 shares of company stock worth $15,877,582. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently modified their holdings of TNGX. Wellington Management Group LLP grew its stake in shares of Tango Therapeutics by 110.8% in the fourth quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock worth $1,685,000 after acquiring an additional 89,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock worth $230,000 after acquiring an additional 7,128 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after acquiring an additional 4,203 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tango Therapeutics during the first quarter worth $272,000. Finally, Vanguard Group Inc. grew its stake in shares of Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock worth $24,462,000 after purchasing an additional 101,673 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.