Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Rating of “Buy” by Brokerages

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.86.

Several equities analysts have recently issued reports on TNGX shares. Jefferies Financial Group started coverage on shares of Tango Therapeutics in a report on Wednesday. They set a “buy” rating and a $19.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Barclays decreased their price target on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th.

Tango Therapeutics Stock Down 5.5 %

Shares of NASDAQ:TNGX opened at $9.27 on Friday. The company has a market cap of $990.50 million, a PE ratio of -8.20 and a beta of 0.83. Tango Therapeutics has a fifty-two week low of $2.88 and a fifty-two week high of $13.03. The firm has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $9.21.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $6.47 million for the quarter, compared to analyst estimates of $7.13 million. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. As a group, research analysts forecast that Tango Therapeutics will post -1.33 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the completion of the transaction, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tango Therapeutics news, insider Mva Investors, Llc sold 110,731 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $8.87, for a total value of $982,183.97. Following the transaction, the insider now owns 203,793 shares of the company’s stock, valued at $1,807,643.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total value of $5,386,174.09. Following the sale, the insider now directly owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 887,902 shares of company stock valued at $8,086,858. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of TNGX. AJOVista LLC purchased a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $61,000. Paloma Partners Management Co acquired a new stake in Tango Therapeutics during the 1st quarter valued at $80,000. Cowen AND Company LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at $99,000. Price T Rowe Associates Inc. MD boosted its position in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Tango Therapeutics by 421.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.