Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average Price Target from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $13.14.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th. B. Riley dropped their price target on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Insider Buying and Selling

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the completion of the transaction, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mace Rothenberg acquired 10,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $3.62 per share, for a total transaction of $36,200.00. Following the completion of the acquisition, the director now directly owns 21,250 shares of the company’s stock, valued at approximately $76,925. This represents a 88.89 % increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TNGX. Congress Asset Management Co. raised its stake in shares of Tango Therapeutics by 9.0% in the fourth quarter. Congress Asset Management Co. now owns 227,989 shares of the company’s stock valued at $704,000 after acquiring an additional 18,919 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in Tango Therapeutics during the 4th quarter valued at $82,000. Barclays PLC raised its position in Tango Therapeutics by 78.3% in the 3rd quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after purchasing an additional 55,470 shares during the last quarter. Geode Capital Management LLC boosted its stake in Tango Therapeutics by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock worth $10,538,000 after purchasing an additional 142,710 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Tango Therapeutics by 340.1% during the third quarter. XTX Topco Ltd now owns 44,191 shares of the company’s stock worth $340,000 after purchasing an additional 34,150 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Trading Down 4.2 %

Shares of Tango Therapeutics stock opened at $2.98 on Wednesday. Tango Therapeutics has a 1-year low of $2.59 and a 1-year high of $12.99. The firm has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $6.33. The stock has a market capitalization of $320.11 million, a price-to-earnings ratio of -2.53 and a beta of 0.81.

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.