Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Consensus Target Price from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.14.

TNGX has been the subject of several recent research reports. Guggenheim decreased their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. B. Riley reduced their price target on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Boxer Capital Management, Llc sold 625,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the completion of the sale, the insider now directly owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mace Rothenberg acquired 10,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.78 per share, with a total value of $37,800.00. Following the completion of the purchase, the director now directly owns 31,250 shares in the company, valued at approximately $118,125. This trade represents a 47.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 4,338,000 shares of company stock worth $18,426,160. Insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the period. The Manufacturers Life Insurance Company boosted its position in Tango Therapeutics by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after purchasing an additional 2,218 shares during the period. Point72 DIFC Ltd purchased a new stake in Tango Therapeutics during the 2nd quarter worth $54,000. China Universal Asset Management Co. Ltd. boosted its position in Tango Therapeutics by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $159,000 after purchasing an additional 8,055 shares during the period. Finally, Quest Partners LLC boosted its position in Tango Therapeutics by 1,448.4% during the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after purchasing an additional 10,182 shares during the period. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $3.06 on Tuesday. Tango Therapeutics has a 1 year low of $2.70 and a 1 year high of $13.01. The company has a market capitalization of $328.70 million, a PE ratio of -2.59 and a beta of 0.74. The company has a fifty day moving average of $4.79 and a two-hundred day moving average of $7.60.

About Tango Therapeutics

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.