Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $42.15 Average PT from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $42.1538.

Several analysts have weighed in on TNGX shares. Raymond James Financial downgraded Tango Therapeutics to a “hold” rating in a research note on Thursday, June 25th. UBS Group set a $55.00 price target on Tango Therapeutics in a report on Thursday, May 14th. Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the company an “outperform” rating in a research note on Monday, June 8th. Canaccord Genuity Group upped their price objective on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Tango Therapeutics in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 target price for the company.

Tango Therapeutics Trading Down 6.7%

TNGX opened at $27.07 on Monday. The business’s 50 day moving average is $28.47 and its 200-day moving average is $21.76. The stock has a market cap of $3.92 billion, a PE ratio of -32.61 and a beta of 1.16. Tango Therapeutics has a twelve month low of $6.25 and a twelve month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). As a group, analysts forecast that Tango Therapeutics will post -1.27 EPS for the current year.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 approximately $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TNGX. Global Retirement Partners LLC acquired a new stake in Tango Therapeutics in the fourth quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd increased its position in shares of Tango Therapeutics by 139.7% during 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 period. 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 valued at $36,000 after purchasing an additional 1,640 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Tango Therapeutics in the 4th quarter worth $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares in the last quarter. 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.