Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Tango Therapeutics has received a consensus rating of "Buy" from five analysts, indicating positive market sentiment towards the stock.
• The average target price for Tango Therapeutics is $10.33, reflecting optimism about the company's future performance.
• Despite the promising outlook, the company reported a negative earnings per share of ($0.35) for the last quarter, which was in line with analyst expectations but highlights ongoing financial challenges.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) has earned an average rating of "Buy" from the five brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is $10.50.

Several equities analysts recently commented on TNGX shares. Guggenheim boosted their target price on Tango Therapeutics from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday. They set an "overweight" rating and a $11.00 target price for the company.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of Tango Therapeutics stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $7.01, for a total transaction of $7,711,000.00. Following the completion of the sale, the insider owned 15,759,075 shares of the company's stock, valued at $110,471,115.75. The trade was a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently added to or reduced their stakes in TNGX. CWM LLC lifted its stake in Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company's stock worth $25,000 after purchasing an additional 3,167 shares during the last quarter. Stonebrook Private Inc. bought a new stake in Tango Therapeutics during the fourth quarter worth about $34,000. Ameriprise Financial Inc. bought a new stake in Tango Therapeutics during the fourth quarter worth about $35,000. Dynamic Technology Lab Private Ltd lifted its stake in Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after purchasing an additional 15,037 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake 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 purchasing an additional 1,640 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

Tango Therapeutics Stock Performance

Tango Therapeutics stock traded down $0.11 during midday trading on Monday, hitting $6.90. 1,503,510 shares of the company's stock were exchanged, compared to its average volume of 1,879,741. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $12.02. The stock has a 50-day moving average price of $6.13 and a two-hundred day moving average price of $3.44. The company has a market cap of $767.69 million, a P/E ratio of -5.19 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). Tango Therapeutics had a negative return on equity of 79.72% and a negative net margin of 599.11%.The business had revenue of $3.18 million during the quarter, compared to analysts' expectations of $6.41 million. As a group, sell-side analysts expect that Tango Therapeutics will post -1.19 earnings per share for the current year.

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.