Tango Therapeutics (NASDAQ:TNGX) Stock Rating Reaffirmed by HC Wainwright

Tango Therapeutics (NASDAQ:TNGXGet Free Report)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 41.92% from the stock’s previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group initiated coverage on Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald reaffirmed 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 report on Tuesday, May 28th. Barclays decreased their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Wedbush raised their price target on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $15.14.

View Our Latest Analysis on TNGX

Tango Therapeutics Stock Down 15.9 %

TNGX opened at $9.16 on Tuesday. The firm has a market cap of $981.40 million, a P/E ratio of -8.11 and a beta of 0.84. The business’s fifty day simple moving average is $9.89 and its 200 day simple moving average is $8.87. Tango Therapeutics has a 52 week low of $5.15 and a 52 week high of $13.03.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. As a group, equities analysts expect that Tango Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 18,651,304 shares of the company’s stock, valued at approximately $182,596,266.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now directly owns 18,651,304 shares in the company, valued at $182,596,266.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mva Investors, Llc sold 110,731 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $8.87, for a total transaction of $982,183.97. Following the completion of the transaction, the insider now owns 203,793 shares of the company’s stock, valued at approximately $1,807,643.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,752,642 shares of company stock valued at $17,563,385. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Tango Therapeutics by 12.6% during 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Tango Therapeutics by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock valued at $253,000 after purchasing an additional 2,218 shares during the period. SG Americas Securities LLC lifted its stake in Tango Therapeutics by 16.0% during the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after buying an additional 4,203 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics in the second quarter worth about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock worth $230,000 after acquiring an additional 7,128 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

About Tango Therapeutics

(Get Free Report)

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.

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Analyst Recommendations for Tango Therapeutics (NASDAQ:TNGX)

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