Tango Therapeutics (NASDAQ:TNGX) Reaches New 12-Month High - Should You Buy?

Key Points

• Tango Therapeutics shares hit a new 52-week high of $19.91 (last around $19.12), and analysts' consensus is a Moderate Buy with an average target of $19.50 after several firms raised price targets (range roughly $11–$27).
• The company remains unprofitable, reporting quarterly EPS of -$0.29 with a negative net margin (151.15%) and negative ROE (50.30%), while carrying a market cap of about $2.72 billion.
• Insiders have sold shares recently (133,884 shares worth ~$1.72M in the last 90 days), but institutional investors have materially increased positions—institutional ownership is about 78.99% with large purchases from firms like Farallon, Adage, Siren, Vanguard and State Street.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $19.91 and last traded at $19.1180, with a volume of 427787 shares trading hands. The stock had previously closed at $19.42.

Analysts Set New Price Targets

TNGX has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of Tango Therapeutics from $15.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Wall Street Zen cut shares of Tango Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Piper Sandler increased their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Friday, January 16th. Jefferies Financial Group restated a "buy" rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday, March 5th. Finally, HC Wainwright raised their price target on Tango Therapeutics from $13.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.50.

Tango Therapeutics Trading Down 1.7%

The business's fifty day moving average price is $13.49 and its two-hundred day moving average price is $10.26. The firm has a market cap of $2.72 billion, a P/E ratio of -21.99 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In other news, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $374,162.94. Following the transaction, the director owned 1,629,254 shares of the company's stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniella Beckman sold 10,317 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the sale, the chief financial officer owned 184,297 shares of the company's stock, valued at $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 133,884 shares of company stock valued at $1,724,622. Corporate insiders own 7.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNGX. Farallon Capital Management LLC lifted its position in Tango Therapeutics by 21.4% during the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company's stock worth $115,724,000 after acquiring an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Tango Therapeutics by 322.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company's stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the last quarter. Siren L.L.C. increased its stake in shares of Tango Therapeutics by 38.8% in the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company's stock worth $72,345,000 after purchasing an additional 2,282,186 shares during the period. Vanguard Group Inc. increased its stake in shares of Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock worth $59,814,000 after purchasing an additional 1,698,974 shares during the period. Finally, State Street Corp lifted its position in shares of Tango Therapeutics by 84.8% during the 4th quarter. State Street Corp now owns 6,218,567 shares of the company's stock worth $55,097,000 after purchasing an additional 2,853,362 shares during the last quarter. Institutional investors 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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