Tango Therapeutics (NASDAQ:TNGX) Shares Up 9.3% – Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price rose 9.3% during mid-day trading on Wednesday . The company traded as high as $21.69 and last traded at $21.30. Approximately 1,094,099 shares traded hands during trading, a decline of 68% from the average daily volume of 3,424,029 shares. The stock had previously closed at $19.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TNGX. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Tango Therapeutics in a research note on Thursday, March 5th. Wedbush increased their price objective on shares of Tango Therapeutics from $15.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Mizuho raised their target price on Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Piper Sandler raised 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. Nine equities 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Tango Therapeutics Trading Up 9.7%

The business has a 50-day moving average of $13.83 and a two-hundred day moving average of $10.43. The firm has a market cap of $3.05 billion, a P/E ratio of -24.52 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, beating 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 expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. The trade was a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Crystal sold 54,345 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total transaction of $693,985.65. Following the completion of the transaction, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 133,884 shares of company stock valued at $1,724,622 in the last three months. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd grew its holdings in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc grew its holdings in Tango Therapeutics by 30.7% in the second 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. Ameritas Investment Partners Inc. increased its stake in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after purchasing an additional 4,464 shares during the period. 78.99% of the stock is currently owned by 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.