Tango Therapeutics (NASDAQ:TNGX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Tango Therapeutics (NASDAQ:TNGX) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research firms have also recently weighed in on TNGX. Wolfe Research began coverage on shares of Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Guggenheim upped their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright increased their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler raised their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tango Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $16.45 on Friday. 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 $2.35 billion, a PE ratio of -18.91 and a beta of 1.76. The stock has a fifty day moving average price of $12.02 and a 200-day moving average price of $9.54.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. 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 news, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the transaction, the chief financial officer directly owned 184,297 shares of the company’s stock, valued at $2,259,481.22. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake 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 period. Russell Investments Group Ltd. lifted its holdings in shares of Tango Therapeutics by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock worth $87,000 after buying an additional 2,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Tango Therapeutics by 12.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock valued at $194,000 after acquiring an additional 2,444 shares during the period. Finally, Barclays PLC grew its stake in Tango Therapeutics by 0.7% during the fourth quarter. Barclays PLC now owns 368,187 shares of the company’s stock valued at $3,262,000 after acquiring an additional 2,507 shares in the last quarter. Hedge funds and other 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.