Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.6667.

TNGX has been the topic of several research reports. Wedbush boosted their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Stifel Nicolaus boosted their price objective on Tango Therapeutics from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Wall Street Zen lowered Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Piper Sandler boosted their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, HC Wainwright boosted their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, March 6th.

Tango Therapeutics Stock Down 6.2%

NASDAQ TNGX opened at $20.29 on Tuesday. The company’s 50 day moving average is $15.31 and its 200-day moving average is $11.29. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $22.20. The firm has a market cap of $2.90 billion, a P/E ratio of -23.32 and a beta of 1.31.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts expect that Tango Therapeutics will post -1.19 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $21.20, for a total transaction of $572,400.00. Following the sale, the insider owned 112,622 shares of the company’s stock, valued at approximately $2,387,586.40. This represents a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barbara Weber sold 30,519 shares of the company’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 transaction of $374,162.94. Following the sale, the director directly owned 1,629,254 shares in the company, 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. In the last three months, insiders have sold 172,884 shares of company stock worth $2,538,342. 7.50% of the stock is owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC increased its holdings in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after acquiring an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Tango Therapeutics by 322.5% in the 4th 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 last quarter. Siren L.L.C. increased its stake in Tango Therapeutics by 38.8% in the 4th 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. increased its stake in Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares during the last quarter. Finally, State Street Corp increased its stake in Tango Therapeutics by 84.8% in the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after acquiring an additional 2,853,362 shares during the last quarter. 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.