Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) PT at $12.33

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have earned a consensus recommendation of "Buy" from the seven brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $12.33.

Separately, HC Wainwright restated a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th.

Tango Therapeutics Stock Performance

Tango Therapeutics stock traded up $0.03 during mid-day trading on Friday, reaching $1.43. The company's stock had a trading volume of 247,243 shares, compared to its average volume of 1,078,427. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $12.02. The company has a market capitalization of $154.05 million, a P/E ratio of -1.18 and a beta of 1.02. The firm's fifty day moving average price is $1.48 and its two-hundred day moving average price is $2.62.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The company had revenue of $5.39 million for the quarter, compared to analysts' expectations of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. On average, research analysts predict that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Institutional Trading of Tango Therapeutics

A number of hedge funds have recently bought and sold shares of the company. TCG Crossover Management LLC purchased a new stake in Tango Therapeutics in the fourth quarter worth about $33,174,000. Boxer Capital Management LLC bought a new stake in Tango Therapeutics during the 4th quarter valued at $32,077,000. Gilead Sciences Inc. purchased a new position in Tango Therapeutics during the 4th quarter worth $15,000,000. Farallon Capital Management LLC purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $12,360,000. Finally, Balyasny Asset Management L.P. boosted its position in Tango Therapeutics by 22.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company's stock worth $10,133,000 after purchasing an additional 592,000 shares in the last quarter. 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.