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

Tango Therapeutics (NASDAQ:TNGX) had its price objective boosted by Mizuho from $19.00 to $20.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Wolfe Research initiated coverage on shares of Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Piper Sandler lifted their price target on shares of Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Wall Street Zen lowered Tango Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. B. Riley Financial raised their target price on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Wedbush boosted their target price on Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Nine investment 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. Based on data from MarketBeat.com, Tango Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $16.99 on Wednesday. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $17.63. The firm has a market cap of $2.42 billion, a PE ratio of -19.53 and a beta of 1.76. The stock has a fifty day moving average price of $12.34 and a 200-day moving average price of $9.66.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. As a group, equities analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares of the company’s stock, valued at $2,259,481.22. The trade was a 5.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Weber sold 30,519 shares of the 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 sale, the director owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This represents a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 133,884 shares of company stock worth $1,724,622. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several hedge funds have recently made changes to their positions in TNGX. Invesco Ltd. raised its stake 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 purchasing an additional 40,983 shares during the period. AQR Capital Management LLC purchased a new position in Tango Therapeutics during the 1st quarter valued at about $195,000. Dynamic Technology Lab Private Ltd increased its position in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after buying an additional 15,037 shares during the period. Woodline Partners LP lifted its holdings in shares of Tango Therapeutics by 28.3% in the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after buying an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings 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 buying an additional 257,668 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

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.