Tango Therapeutics (NASDAQ:TNGX) Shares Up 5.2%

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s share price rose 5.2% on Thursday . The company traded as high as $8.14 and last traded at $8.08. Approximately 293,446 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 686,700 shares. The stock had previously closed at $7.68.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on Tango Therapeutics in a research report on Thursday. They issued an "overweight" rating for the company. HC Wainwright raised their price objective on Tango Therapeutics from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an "overweight" rating and a $18.00 price target for the company. B. Riley began coverage on Tango Therapeutics in a research report on Friday, December 8th. They set a "buy" rating and a $16.00 price target for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $18.00 price target on shares of Tango Therapeutics in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $17.25.

Tango Therapeutics Trading Down 0.5 %

The stock has a 50-day simple moving average of $10.49 and a 200 day simple moving average of $9.66. The company has a market cap of $815.33 million, a price-to-earnings ratio of -6.95 and a beta of 0.83.

Insider Activity

In other news, CEO Barbara Weber sold 4,681 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $58,793.36. Following the completion of the transaction, the chief executive officer now owns 1,539,624 shares of the company's stock, valued at approximately $19,337,677.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Adam Crystal sold 4,288 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the transaction, the insider now owns 123,561 shares of the company's stock, valued at approximately $1,551,926.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Barbara Weber sold 4,681 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $58,793.36. Following the completion of the transaction, the chief executive officer now directly owns 1,539,624 shares of the company's stock, valued at approximately $19,337,677.44. The disclosure for this sale can be found here. Insiders sold a total of 174,731 shares of company stock valued at $2,103,703 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

A number of large investors have recently bought and sold shares of TNGX. Royal Bank of Canada acquired a new position in Tango Therapeutics in the 1st quarter worth about $32,000. Two Sigma Securities LLC acquired a new position in Tango Therapeutics in the 2nd quarter worth about $40,000. Renaissance Technologies LLC acquired a new position in Tango Therapeutics in the 3rd quarter worth about $41,000. XTX Topco Ltd acquired a new position in Tango Therapeutics in the 1st quarter worth about $44,000. Finally, HRT Financial LP acquired a new position in Tango Therapeutics in the 1st quarter worth about $45,000. Institutional investors and hedge funds 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.