Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $27.00 at HC Wainwright

Tango Therapeutics (NASDAQ:TNGX) had its price objective increased by analysts at HC Wainwright from $13.00 to $27.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 60.71% from the stock’s previous close.

Several other analysts also recently weighed in on the company. B. Riley Financial raised their target price on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Guggenheim lifted their price objective on Tango Therapeutics from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Jefferies Financial Group reiterated a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday. Finally, Mizuho began coverage on shares of Tango Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $19.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Tango Therapeutics Trading Up 36.0%

NASDAQ TNGX opened at $16.80 on Friday. The stock has a market cap of $2.26 billion, a P/E ratio of -18.06 and a beta of 1.76. The company’s fifty day simple moving average is $11.70 and its 200-day simple moving average is $9.37. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $16.97.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 54,345 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the completion of the transaction, the insider directly owned 132,873 shares of the company’s stock, valued at approximately $1,696,788.21. This represents a 29.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara Weber sold 30,519 shares of the firm’s 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,633 shares of company stock valued at $1,420,857 in the last quarter. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several large investors have recently added to or reduced their stakes in TNGX. CWM LLC lifted its stake in Tango Therapeutics by 182.2% in the second quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after buying an additional 3,167 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Tango Therapeutics in the 4th quarter valued at about $35,000. Dynamic Technology Lab Private Ltd boosted its stake 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 valued at $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc grew its position in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

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.