Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Rating 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 a consensus recommendation of "Buy" from the five analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $10.3333.

A number of brokerages have issued reports on TNGX. Piper Sandler began coverage on shares of Tango Therapeutics in a report on Monday. They set an "overweight" rating on the stock. Guggenheim increased their target price on Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX traded up $0.45 during mid-day trading on Monday, hitting $7.22. 2,387,620 shares of the stock traded hands, compared to its average volume of 1,816,702. Tango Therapeutics has a twelve month low of $1.03 and a twelve month high of $12.02. The company has a market cap of $803.30 million, a PE ratio of -5.43 and a beta of 1.64. The firm has a 50 day simple moving average of $5.95 and a two-hundred day simple moving average of $3.33.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.35). Tango Therapeutics had a negative return on equity of 79.72% and a negative net margin of 599.11%. The company had revenue of $3.18 million for the quarter, compared to the consensus estimate of $6.41 million. On average, equities research analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Tango Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,386,449 shares of the company's stock valued at $4,285,000 after purchasing an additional 18,187 shares during the period. Wells Fargo & Company MN boosted its holdings in Tango Therapeutics by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock valued at $69,000 after purchasing an additional 7,599 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $66,000. XTX Topco Ltd raised its stake in shares of Tango Therapeutics by 76.4% in the 4th quarter. XTX Topco Ltd now owns 77,937 shares of the company's stock valued at $241,000 after acquiring an additional 33,746 shares during the period. Finally, Walleye Capital LLC raised its stake in shares of Tango Therapeutics by 101.3% in the 4th quarter. Walleye Capital LLC now owns 287,052 shares of the company's stock valued at $887,000 after acquiring an additional 144,476 shares during the period. Hedge funds and other institutional investors own 78.99% of the company's stock.

About Tango Therapeutics

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.

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