Guggenheim Issues Positive Forecast for Tango Therapeutics (NASDAQ:TNGX) Stock Price

Tango Therapeutics (NASDAQ:TNGX) had its target price upped by equities research analysts at Guggenheim from $12.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 42.02% from the stock’s previous close.

A number of other research firms have also commented on TNGX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Wolfe Research began coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, B. Riley boosted their price target on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Tango Therapeutics Trading Up 6.1%

Shares of TNGX traded up $0.72 during mid-day trading on Friday, hitting $12.67. 317,409 shares of the company traded hands, compared to its average volume of 3,030,407. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -13.60 and a beta of 1.75. The business has a 50-day moving average of $10.37 and a 200 day moving average of $8.55. Tango Therapeutics has a one year low of $1.03 and a one year high of $13.46.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The firm had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. As a group, analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 18,452 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $226,221.52. Following the transaction, the insider owned 187,218 shares in the company, valued at $2,295,292.68. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,288 shares of company stock valued at $726,871 over the last 90 days. 7.50% of the stock is owned by corporate insiders.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. Invesco Ltd. boosted its holdings in shares of Tango Therapeutics by 138.8% during the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock valued at $97,000 after acquiring an additional 40,983 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Tango Therapeutics during the first quarter worth $195,000. Dynamic Technology Lab Private Ltd raised its position in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the last quarter. Woodline Partners LP grew its position in shares of Tango Therapeutics by 28.3% in the 1st quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock valued at $693,000 after buying an additional 111,791 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Tango Therapeutics by 270.6% in the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock worth $483,000 after acquiring an additional 257,668 shares during the period. Institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.