Tango Therapeutics (NASDAQ:TNGX) Trading Up 8.8% – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price was up 8.8% during mid-day trading on Monday . The stock traded as high as $13.38 and last traded at $13.2680. Approximately 633,513 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,876,713 shares. The stock had previously closed at $12.20.

Analyst Ratings Changes

A number of brokerages recently weighed in on TNGX. Stifel Nicolaus began coverage on shares of Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. Wall Street Zen upgraded Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Wolfe Research started coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Finally, B. Riley Financial lifted their price objective on shares of Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Tango Therapeutics Stock Down 1.9%

The firm has a market cap of $1.70 billion, a P/E ratio of -13.58 and a beta of 1.75. The business’s 50 day moving average is $11.23 and its 200-day moving average is $9.15.

Insider Transactions at Tango Therapeutics

In other news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred 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 completion of the transaction, the director owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 18,452 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $226,221.52. Following the completion of the sale, the insider owned 187,218 shares of the company’s stock, valued at $2,295,292.68. This trade represents a 8.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,288 shares of company stock valued at $726,871. Insiders own 7.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNGX. Farallon Capital Management LLC raised its holdings in shares of Tango Therapeutics by 21.4% during the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after purchasing an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after acquiring an additional 8,096,924 shares during the period. Siren L.L.C. lifted its holdings in Tango Therapeutics by 38.8% in the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after acquiring an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after acquiring an additional 1,698,974 shares during the period. Finally, State Street Corp grew its holdings in shares of Tango Therapeutics by 84.8% during the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock valued at $55,097,000 after purchasing an additional 2,853,362 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.