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

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have been given an average rating of "Buy" by the six research firms that are presently covering the stock, Marketbeat reports. Six research 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 reiterated a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Monday, April 14th.

Tango Therapeutics Price Performance

NASDAQ:TNGX traded up $0.03 during trading hours on Tuesday, reaching $3.27. 3,119,695 shares of the company were exchanged, compared to its average volume of 1,379,615. The business has a 50 day moving average of $1.55 and a 200 day moving average of $2.38. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $12.02. The company has a market capitalization of $354.45 million, a P/E ratio of -2.77 and a beta of 1.02.

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

Institutional Trading of Tango Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas raised its stake in 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 acquiring an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Tango Therapeutics by 29.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after purchasing an additional 4,813 shares during the last quarter. Deutsche Bank AG increased its position in Tango Therapeutics by 24.1% during the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after purchasing an additional 7,128 shares in the last quarter. Wells Fargo & Company MN increased 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 purchasing an additional 7,599 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Tango Therapeutics by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company's stock valued at $155,000 after buying an additional 10,213 shares in the last quarter. 78.99% of the stock is currently 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.