Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of “Moderate Buy” by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.50.

Several analysts have recently weighed in on TNGX shares. Jefferies Financial Group upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $27.00 to $60.00 in a research report on Thursday, June 25th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $16.00 to $24.00 in a research note on Thursday, May 14th. Finally, Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th.

Tango Therapeutics Stock Up 1.7%

TNGX stock opened at $30.64 on Thursday. The business has a 50 day moving average price of $25.81 and a 200 day moving average price of $19.01. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -36.92 and a beta of 1.12. Tango Therapeutics has a fifty-two week low of $5.75 and a fifty-two week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). As a group, sell-side analysts anticipate that Tango Therapeutics will post -1.28 EPS for the current year.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $3,424,835.37. This 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 the SEC website. Over the last ninety days, insiders sold 119,460 shares of company stock valued at $2,951,130. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of Tango Therapeutics during the fourth quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd boosted its stake in Tango Therapeutics by 139.7% during the 1st 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 boosted its stake in 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after purchasing an additional 4,464 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Tango Therapeutics during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

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.