Tango Therapeutics (NASDAQ:TNGX) Reaches New 1-Year High - Should You Buy?

Key Points

• Tango Therapeutics hit a new 52-week high Monday, trading as high as $27.35 and last at $26.5150; the company has a market cap of $3.77 billion and 50-/200-day moving averages of $17.22 and $12.22.
• Analyst sentiment is a Moderate Buy (10 Buys, 1 Hold, 1 Sell) with an average price target of $20.67, and several firms recently raised targets — HC Wainwright to $27 and Guggenheim to $20.
• Insiders have been net sellers (211,344 shares sold in the last 90 days, ~$3.5M), while the company remains unprofitable with negative EPS and a -151% net margin, underscoring risk despite the stock rally.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $27.35 and last traded at $26.5150, with a volume of 2999 shares. The stock had previously closed at $26.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TNGX. HC Wainwright lifted their price target on shares of Tango Therapeutics from $13.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Jefferies Financial Group reiterated a "buy" rating and set a $18.00 price target on shares of Tango Therapeutics in a report on Thursday, March 5th. Guggenheim lifted their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Wall Street Zen lowered shares of Tango Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.67.

Tango Therapeutics Stock Performance

The firm's 50 day moving average price is $17.22 and its two-hundred day moving average price is $12.22. The company has a market cap of $3.77 billion, a P/E ratio of -30.39 and a beta of 1.31.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. As a group, analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Insider Activity

In other news, insider Adam Crystal sold 54,345 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total transaction of $693,985.65. Following the transaction, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. This represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniella Beckman sold 10,317 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the transaction, the chief financial officer owned 184,297 shares in the company, valued at $2,259,481.22. This represents a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 211,344 shares of company stock worth $3,499,842. Company insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in shares of Tango Therapeutics during the fourth quarter worth about $35,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock valued at $40,000 after purchasing an additional 4,464 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Tango Therapeutics during the 4th quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tango Therapeutics by 52.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company's stock valued at $58,000 after purchasing an additional 2,243 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company's stock.

Tango Therapeutics Company Profile

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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