Guggenheim Boosts 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 - Get Free Report) had its price objective hoisted by analysts at Guggenheim from $8.00 to $10.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Guggenheim's price target would suggest a potential upside of 58.10% from the stock's current price.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tango Therapeutics currently has an average rating of "Buy" and an average target price of $11.00.

Tango Therapeutics Stock Performance

Shares of TNGX traded down $0.59 during trading hours on Wednesday, hitting $6.33. The company had a trading volume of 709,075 shares, compared to its average volume of 1,770,034. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $12.02. The firm has a fifty day moving average price of $5.29 and a 200-day moving average price of $3.10. The stock has a market capitalization of $685.57 million, a price-to-earnings ratio of -5.18 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $5.39 million for the quarter, compared to analysts' expectations of $6.73 million. Tango Therapeutics had a negative return on equity of 62.75% and a negative net margin of 322.67%. Research analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Deutsche Bank AG grew its stake in shares of Tango Therapeutics by 24.1% in the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock valued at $113,000 after purchasing an additional 7,128 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at approximately $35,000. Squarepoint Ops LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $40,000. Northern Trust Corp raised its holdings in Tango Therapeutics by 7.1% during the fourth quarter. Northern Trust Corp now owns 513,079 shares of the company's stock worth $1,585,000 after purchasing an additional 33,829 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Tango Therapeutics during the fourth quarter worth $771,000. Hedge funds and other institutional investors 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.

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