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

Key Points

• Analyst sentiment is moderately bullish: Of 16 brokerages covering Tango Therapeutics, 13 rate it a buy, two hold, and one sell. The average 12-month price target is $43.46, above the reported opening price of $25.28.
• Tango Therapeutics has a market capitalization of approximately $4.26 billion and trades within a 52-week range of $6.25 to $34.39. Its latest quarterly loss of $0.37 per share was wider than analysts’ expected loss of $0.32.
• Institutional ownership is substantial at 78.99%, with BlackRock and other investors recently building positions, while an insider sold 27,000 shares for approximately $798,930.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) has been given an average rating of "Moderate Buy" by the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.4615.

TNGX has been the topic of a number of recent analyst reports. Guggenheim lifted their price target on Tango Therapeutics from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. UBS Group set a $55.00 price objective on Tango Therapeutics in a research note on Thursday, May 14th. Raymond James Financial lowered Tango Therapeutics to a "hold" rating in a research report on Thursday, June 25th. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the stock an "outperform" rating in a research note on Monday, June 8th. Finally, HC Wainwright lifted their target price on Tango Therapeutics from $66.00 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th.

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $25.28 on Friday. Tango Therapeutics has a 52 week low of $6.25 and a 52 week high of $34.39. The firm has a 50-day moving average price of $27.84 and a two-hundred day moving average price of $23.13. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -29.74 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). As a group, sell-side analysts forecast that Tango Therapeutics will post -1.38 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On Tango Therapeutics

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Tango Therapeutics in the second quarter valued at approximately $388,826,000. Adage Capital Partners GP L.L.C. increased its position in Tango Therapeutics by 322.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company's stock worth $93,986,000 after buying an additional 8,096,924 shares during the last quarter. TRV GP IV LLC bought a new stake in shares of Tango Therapeutics in the second quarter valued at $120,181,383,000. Jupiter Topco LLC purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at $157,989,000. Finally, Caligan Partners LP purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $33,047,000. Hedge funds and other 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.

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