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

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $15.14.

Several equities research analysts have recently commented on TNGX shares. Wedbush lifted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Tuesday, September 10th.

Tango Therapeutics Trading Down 3.3 %

TNGX opened at $7.04 on Thursday. Tango Therapeutics has a 1-year low of $5.15 and a 1-year high of $13.03. The stock has a market capitalization of $752.20 million, a PE ratio of -6.23 and a beta of 0.84. The firm has a 50-day moving average price of $9.55 and a two-hundred day moving average price of $8.59.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The business had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. On average, research analysts predict that Tango Therapeutics will post -1.27 EPS for the current year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 262,740 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $9.78, for a total value of $2,569,597.20. Following the sale, the insider now directly owns 18,197,074 shares in the company, valued at $177,967,383.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 1,680,311 shares of company stock worth $17,042,393. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently modified their holdings of TNGX. Dynamic Technology Lab Private Ltd bought a new stake in Tango Therapeutics during the 4th quarter worth approximately $136,000. RTW Investments LP bought a new stake in shares of Tango Therapeutics during the fourth quarter worth $19,471,000. Braslyn Ltd. acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth $267,000. Boxer Capital LLC lifted its position in Tango Therapeutics by 15.1% in the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after acquiring an additional 1,075,000 shares in the last quarter. Finally, Old Well Partners LLC acquired a new position in Tango Therapeutics in the 4th quarter worth $182,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.