Tango Therapeutics (NASDAQ:TNGX - Get Free Report) had its price target increased by equities research analysts at Guggenheim from $10.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price target points to a potential upside of 59.36% from the company's previous close.
Other equities analysts have also recently issued research reports about the company. Piper Sandler began coverage on Tango Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $11.00 price target for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.00.
Check Out Our Latest Analysis on TNGX
Tango Therapeutics Price Performance
NASDAQ:TNGX opened at $7.53 on Friday. The business's 50-day moving average is $7.49 and its two-hundred day moving average is $5.12. The firm has a market capitalization of $837.79 million, a PE ratio of -5.66 and a beta of 1.67. Tango Therapeutics has a 12 month low of $1.03 and a 12 month high of $9.70.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share 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 company had revenue of $3.18 million during the quarter, compared to the consensus estimate of $6.41 million. Equities analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $7.01, for a total value of $7,711,000.00. Following the completion of the sale, the insider directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,995,100 shares of company stock valued at $21,504,700 in the last three months. 7.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. CWM LLC raised its position in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company's stock valued at $25,000 after acquiring an additional 3,167 shares in the last quarter. Dynamic Technology Lab Private Ltd increased 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 valued at $35,000 after purchasing an additional 15,037 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of 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 period. Ameritas Investment Partners Inc. raised its holdings in shares of Tango Therapeutics by 78.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company's stock worth $40,000 after purchasing an additional 3,452 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Tango Therapeutics by 44.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company's stock worth $49,000 after buying an additional 2,907 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company's stock.
Tango Therapeutics Company Profile
(
Get Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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