Mizuho Forecasts Strong Price Appreciation for Tango Therapeutics (NASDAQ:TNGX) Stock

Tango Therapeutics (NASDAQ:TNGX) had its price objective hoisted by research analysts at Mizuho from $20.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 35.52% from the stock’s current price.

Several other research analysts also recently commented on TNGX. Guggenheim raised their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Stifel Nicolaus upped their target price on shares of Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research report on Friday, March 27th. Citigroup reiterated a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Finally, Piper Sandler lowered Tango Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $24.00 in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.27.

Tango Therapeutics Stock Down 11.0%

Shares of NASDAQ:TNGX opened at $22.14 on Friday. The firm has a fifty day simple moving average of $21.41 and a two-hundred day simple moving average of $14.20. Tango Therapeutics has a 52 week low of $1.40 and a 52 week high of $28.41. The stock has a market capitalization of $3.19 billion, a P/E ratio of -26.67 and a beta of 1.22.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.17%. On average, analysts expect that Tango Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $21.23, for a total transaction of $573,210.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at $2,457,223.89. This trade represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 179,056 shares of company stock worth $3,346,181 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Tango Therapeutics during the fourth quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Tango Therapeutics by 139.7% in 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 last quarter. Legal & General Group Plc increased its position in shares of Tango Therapeutics by 30.7% during 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Tango Therapeutics during the fourth quarter worth about $40,000. Institutional investors and hedge funds 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.