Tango Therapeutics (NASDAQ:TNGX) Price Target Lowered to $14.00 at Guggenheim

Tango Therapeutics (NASDAQ:TNGX) had its target price cut by Guggenheim from $16.00 to $14.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on TNGX. Barclays lowered their target price on Tango Therapeutics from $18.00 to $13.00 and set an overweight rating on the stock in a report on Friday. HC Wainwright restated a buy rating and issued a $17.00 target price on shares of Tango Therapeutics in a report on Thursday, May 9th. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, February 12th. They issued an overweight rating and a $18.00 price target for the company. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research note on Thursday, April 4th. They issued an overweight rating on the stock. Finally, Wedbush cut their price target on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $14.83.

Tango Therapeutics Trading Down 2.5 %

Tango Therapeutics stock traded down $0.18 during midday trading on Friday, hitting $6.91. The stock had a trading volume of 707,524 shares, compared to its average volume of 530,815. Tango Therapeutics has a 52-week low of $2.47 and a 52-week high of $13.03. The firm’s fifty day moving average is $7.61 and its two-hundred day moving average is $9.28.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $7.86 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. As a group, research analysts predict that Tango Therapeutics will post -1.33 earnings per share for the current year.

Insider Activity

In other news, insider Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $7.43, for a total transaction of $557,250.00. Following the completion of the transaction, the insider now directly owns 618,524 shares of the company’s stock, valued at approximately $4,595,633.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Tango Therapeutics by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock valued at $1,742,000 after acquiring an additional 13,418 shares in the last quarter. Barclays PLC grew its stake in shares of Tango Therapeutics by 56.2% during the third quarter. Barclays PLC now owns 87,882 shares of the company’s stock worth $990,000 after purchasing an additional 31,618 shares during the period. L2 Asset Management LLC bought a new stake in shares of Tango Therapeutics in the third quarter valued at about $185,000. Charles Schwab Investment Management Inc. raised its stake in Tango Therapeutics by 205.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock valued at $4,136,000 after buying an additional 247,234 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Tango Therapeutics in the third quarter valued at approximately $144,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

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.