Stifel Nicolaus Issues Positive Forecast for Tango Therapeutics (NASDAQ:TNGX) Stock Price

Key Points

• Stifel Nicolaus raised its price target on Tango Therapeutics from $24 to $40 and kept a "buy" rating, implying about a 55.32% upside from the prior close.
• Analyst sentiment is largely positive (11 Buys, 1 Hold, 1 Sell) with a MarketBeat average target of $22.44; the stock trades near $25.75 with a $3.71B market cap but remains unprofitable (negative EPS and ROE).
• Insiders sold a total of 211,344 shares (~$3.5M) over the last 90 days, while institutional investors own roughly 79% of the company's shares.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) had its target price upped by equities researchers at Stifel Nicolaus from $24.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 55.32% from the company's previous close.

TNGX has been the topic of a number of other research reports. Jefferies Financial Group reissued a "buy" rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research note on Thursday, March 5th. HC Wainwright boosted their target price on Tango Therapeutics from $13.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. B. Riley Financial restated a "buy" rating on shares of Tango Therapeutics in a research report on Friday, March 27th. Guggenheim boosted their target price on Tango Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Monday, April 20th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.44.

Tango Therapeutics Stock Performance

Tango Therapeutics stock opened at $25.75 on Monday. The firm has a market cap of $3.71 billion, a P/E ratio of -29.60 and a beta of 1.31. The business's fifty day moving average is $18.60 and its two-hundred day moving average is $12.89. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $28.41.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. On average, equities research analysts predict that Tango Therapeutics will post -1.34 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In related news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the completion of the sale, the director directly owned 1,629,254 shares of the company's stock, valued at $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Crystal sold 38,460 shares of Tango Therapeutics stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total value of $961,500.00. Following the sale, the insider directly owned 112,622 shares of the company's stock, valued at approximately $2,815,550. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,344 shares of company stock worth $3,499,842 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after acquiring an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Tango Therapeutics by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company's stock worth $87,000 after acquiring an additional 2,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tango Therapeutics by 52.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company's stock worth $58,000 after acquiring an additional 2,243 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Tango Therapeutics by 10.2% during the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company's stock worth $507,000 after acquiring an additional 2,251 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Tango Therapeutics by 12.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company's stock worth $194,000 after acquiring an additional 2,444 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company's lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.

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