Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Tango Therapeutics has a consensus analyst rating of "Moderate Buy" from 15 covering firms, with an average 12-month price target of $41.50. The breakdown includes 12 buy ratings, two hold ratings, and one sell rating.
• Recent analyst actions were mixed but generally positive, including Wedbush and Canaccord Genuity raising price targets, and Jefferies upgrading the stock to buy with a much higher target of $60. Raymond James and Wall Street Zen were more cautious, each downgrading the shares.
• The stock has been trading strongly, opening at $30.64 with a 52-week range of $5.75 to $34.39. Institutional ownership is high at 78.99%, while insiders have recently sold shares, including a notable sale by Adam Crystal.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.50.

TNGX has been the subject of several recent research reports. Wedbush raised their price target on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Jefferies Financial Group raised Tango Therapeutics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $27.00 to $60.00 in a research report on Thursday, June 25th. Raymond James Financial lowered Tango Therapeutics to a "hold" rating in a report on Thursday, June 25th. Canaccord Genuity Group boosted their target price on Tango Therapeutics from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Finally, Wall Street Zen cut Tango Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st.

Insider Activity

In other news, insider Adam Crystal sold 38,460 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total transaction of $961,500.00. Following the completion of the transaction, the insider directly owned 112,622 shares of the company's stock, valued at approximately $2,815,550. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 119,460 shares of company stock valued at $2,951,130. Company insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TNGX. Tudor Investment Corp ET AL acquired a new stake in shares of Tango Therapeutics in the 3rd quarter valued at $450,000. Farallon Capital Management LLC grew its stake in shares of Tango Therapeutics by 17.5% during the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company's stock worth $90,359,000 after purchasing an additional 1,600,000 shares in the last quarter. Mass General Brigham Inc acquired a new position in shares of Tango Therapeutics during the fourth quarter worth $3,138,000. Avoro Capital Advisors LLC purchased a new position in Tango Therapeutics in the third quarter valued at $4,578,000. Finally, Vanguard Group Inc. increased its holdings in Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock valued at $59,814,000 after buying an additional 1,698,974 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $30.64 on Thursday. The company's 50-day simple moving average is $25.81 and its 200-day simple moving average is $19.01. Tango Therapeutics has a 1 year low of $5.75 and a 1 year high of $34.39. The stock has a market capitalization of $4.43 billion, a PE ratio of -36.92 and a beta of 1.12.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). On average, sell-side analysts predict that Tango Therapeutics will post -1.28 earnings per share for the current year.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company's lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.

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