Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Target Price at $12.20

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $12.20.

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

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX traded up $0.75 during mid-day trading on Tuesday, reaching $4.26. The company had a trading volume of 9,177,645 shares, compared to its average volume of 1,429,497. Tango Therapeutics has a one year low of $1.03 and a one year high of $12.02. The firm has a market cap of $461.76 million, a price-to-earnings ratio of -3.61 and a beta of 1.24. The business's 50-day simple moving average is $1.63 and its 200 day simple moving average is $2.38.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $5.39 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its stake in shares of Tango Therapeutics by 35.8% during the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after buying an additional 3,831 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Tango Therapeutics by 29.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock worth $65,000 after buying an additional 4,813 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Tango Therapeutics by 24.1% during the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after buying an additional 7,128 shares during the last quarter. Wells Fargo & Company MN grew its position in Tango Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after acquiring an additional 7,599 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Tango Therapeutics by 9.9% during the 1st quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company's stock worth $155,000 after acquiring an additional 10,213 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

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.