Guggenheim Increases Tango Therapeutics (NASDAQ:TNGX) Price Target to $10.00

Key Points

• Guggenheim raised its price target for Tango Therapeutics (NASDAQ:TNGX) from $8.00 to $10.00, indicating a potential upside of 58.10% from the current stock price.
• HC Wainwright also maintains a "buy" rating on TNGX, with a price target of $13.00, contributing to an average target price of $11.00 among analysts.
• Tango Therapeutics reported a quarterly loss with EPS of ($0.36), missing the consensus estimate, and has a current market cap of $685.57 million.

Tango Therapeutics (NASDAQ:TNGX - Free Report) had its price objective boosted by Guggenheim from $8.00 to $10.00 in a research note released on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Monday, April 14th.

Tango Therapeutics Price Performance

Shares of TNGX stock remained flat at $6.61 on Wednesday. 999,390 shares of the stock traded hands, compared to its average volume of 1,966,020. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $12.02. The business has a 50 day moving average price of $5.56 and a 200 day moving average price of $3.18.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $3.18 million for the quarter, compared to the consensus estimate of $6.41 million. Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. Equities research analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TNGX. TCG Crossover Management LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $33,174,000. Boxer Capital Management LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $32,077,000. Gilead Sciences Inc. purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $15,000,000. Farallon Capital Management LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $12,360,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $8,666,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

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.