Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts generally favor Tango Therapeutics: Sixteen firms give the stock an average “Moderate Buy” rating, with 13 buys, two holds and one sell. The average 12-month price target is $42.15, above the reported share price of $27.18.
• Recent analyst actions were mixed but mostly positive: Jefferies upgraded the stock to “buy” and raised its target to $60, while Canaccord increased its target to $46; Piper Sandler lowered its rating to “neutral” but raised its target to $24.
• Tango reported quarterly EPS of negative $0.32, in line with expectations, and analysts expect a full-year loss of $1.27 per share. An insider also sold 27,000 shares for approximately $798,930, while institutional investors own 78.99% of the company.

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $42.1538.

A number of research firms recently weighed in on TNGX. Jefferies Financial Group upgraded Tango Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $27.00 to $60.00 in a report on Thursday, June 25th. Weiss Ratings cut Tango Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, June 29th. Canaccord Genuity Group boosted their target price on Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. UBS Group set a $55.00 target price on Tango Therapeutics in a report on Thursday, May 14th. Finally, Piper Sandler cut Tango Therapeutics from an "overweight" rating to a "neutral" rating and raised their price target for the company from $16.00 to $24.00 in a research report on Thursday, May 14th.

Tango Therapeutics Stock Performance

TNGX stock opened at $27.18 on Monday. The company's 50-day moving average price is $27.68 and its 200 day moving average price is $21.25. Tango Therapeutics has a 52 week low of $5.77 and a 52 week high of $34.39. The company has a market cap of $3.93 billion, a P/E ratio of -32.75 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.32). On average, equities research analysts expect that Tango Therapeutics will post -1.27 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the sale, the insider directly owned 115,743 shares of the company's stock, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.50% of the company's stock.

Institutional Trading of Tango Therapeutics

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd lifted its stake in Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock valued at $35,000 after buying an additional 15,037 shares in the last quarter. Legal & General Group Plc lifted its stake in Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock valued at $36,000 after buying an additional 1,640 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Tango Therapeutics during the 4th quarter valued at $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock valued at $40,000 after buying an additional 4,464 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Company Profile

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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