Cantor Fitzgerald Begins Coverage on Tango Therapeutics (NASDAQ:TNGX)

Analysts at Cantor Fitzgerald began coverage on shares of Tango Therapeutics (NASDAQ:TNGX - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The firm set an "overweight" rating on the stock.

A number of other equities analysts also recently commented on TNGX. B. Riley began coverage on shares of Tango Therapeutics in a report on Friday, December 8th. They issued a "buy" rating and a $16.00 target price for the company. HC Wainwright boosted their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Wedbush reiterated an "outperform" rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Finally, Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They issued an "overweight" rating and a $18.00 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $17.25.

Tango Therapeutics Price Performance

Tango Therapeutics stock traded down $0.04 during trading hours on Thursday, reaching $7.64. The stock had a trading volume of 980,580 shares, compared to its average volume of 697,952. The company has a market cap of $815.33 million, a price-to-earnings ratio of -6.95 and a beta of 0.83. The business's 50 day moving average price is $10.49 and its 200-day moving average price is $9.66. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares in the company, valued at $230,417,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the completion of the transaction, the insider now directly owns 19,201,475 shares of the company's stock, valued at approximately $230,417,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Crystal sold 4,288 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $53,857.28. Following the sale, the insider now owns 123,561 shares of the company's stock, valued at $1,551,926.16. The disclosure for this sale can be found here. Insiders have sold a total of 174,731 shares of company stock worth $2,103,703 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of Tango Therapeutics by 7.4% in the first quarter. Swiss National Bank now owns 93,100 shares of the company's stock worth $706,000 after buying an additional 6,400 shares during the last quarter. Citigroup Inc. grew its stake in shares of Tango Therapeutics by 13.2% during the 1st quarter. Citigroup Inc. now owns 36,709 shares of the company's stock worth $278,000 after purchasing an additional 4,267 shares during the period. BlackRock Inc. increased its holdings in shares of Tango Therapeutics by 29.6% during the 1st quarter. BlackRock Inc. now owns 1,493,186 shares of the company's stock valued at $11,319,000 after purchasing an additional 340,746 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Tango Therapeutics by 87.6% during the 1st quarter. Vanguard Group Inc. now owns 2,713,963 shares of the company's stock valued at $20,571,000 after purchasing an additional 1,267,198 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Tango Therapeutics by 7.5% in the 1st quarter. State Street Corp now owns 247,134 shares of the company's stock valued at $1,873,000 after purchasing an additional 17,141 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

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.