Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Sixteen analysts give Tango Therapeutics a consensus “Moderate Buy” rating, with 13 buys, two holds and one sell. The average 12-month price target is $43.46.
• Shares remain volatile and below analyst targets: TNGX opened at $22.33, compared with a 52-week range of $6.69 to $34.39, and recently traded up 2.7%. The company reported a quarterly loss of $0.37 per share, missing expectations by $0.05.
• Ownership is dominated by institutions: Institutional investors hold 78.99% of the stock, while insiders own 6.50%; insider Adam Crystal recently sold 27,000 shares for approximately $799,000.

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.4615.

Several brokerages recently weighed in on TNGX. Mizuho upped their price objective on Tango Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Leerink Partners lifted their target price on Tango Therapeutics from $55.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. B. Riley Financial reissued a "buy" rating on shares of Tango Therapeutics in a report on Monday, June 8th. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a report on Wednesday, July 15th. They issued an "overweight" rating and a $46.00 target price for the company. Finally, Wall Street Zen downgraded shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th.

Tango Therapeutics Trading Up 2.7%

Shares of Tango Therapeutics stock opened at $22.33 on Tuesday. Tango Therapeutics has a 1-year low of $6.69 and a 1-year high of $34.39. The company has a market cap of $3.77 billion, a PE ratio of -26.27 and a beta of 1.12. The company has a 50 day moving average of $25.53 and a 200-day moving average of $24.41.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Research analysts forecast that Tango Therapeutics will post -1.41 earnings per share for the current year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider owned 115,743 shares in the company, valued at $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Nykredit A S bought a new stake in Tango Therapeutics during the 2nd quarter worth $26,000. Allworth Financial LP acquired a new position in Tango Therapeutics in the 2nd quarter worth about $35,000. Global Retirement Partners LLC bought a new position in Tango Therapeutics in the second quarter valued at about $122,000. State of Wyoming bought a new position in Tango Therapeutics in the first quarter valued at about $128,000. Finally, AXQ Capital LP boosted its stake in shares of Tango Therapeutics by 50.5% during the fourth quarter. AXQ Capital LP now owns 20,268 shares of the company's stock valued at $180,000 after purchasing an additional 6,800 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.

About Tango Therapeutics

Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.

Tango's research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.

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