Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $43.4615.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 price objective for the company. Jefferies Financial Group raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $27.00 to $60.00 in a research note on Thursday, June 25th. Leerink Partners raised their price target on shares of Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Wall Street Zen downgraded shares of Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Raymond James Financial lowered shares of Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $22.76 on Friday. The company has a 50 day simple moving average of $27.23 and a 200 day simple moving average of $23.48. Tango Therapeutics has a 1 year low of $6.25 and a 1 year high of $34.39. The firm has a market cap of $3.84 billion, a PE ratio of -26.78 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, research analysts anticipate that Tango Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction on 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 approximately $3,424,835.37. This represents a 18.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently made changes to their positions in the company. Nykredit A S purchased a new stake in Tango Therapeutics in the 2nd quarter valued at about $26,000. Allworth Financial LP purchased a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $35,000. Global Retirement Partners LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter valued at $35,000. Dynamic Technology Lab Private Ltd raised its stake 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 worth $35,000 after purchasing an additional 15,037 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of 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 buying an additional 1,640 shares during the last quarter. 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.