Tango Therapeutics (NASDAQ:TNGX) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up premarket — opened at $21.00 vs. prior close $19.95 and last traded near $20.38, with a 50‑day MA of $16.00, 200‑day MA of $11.64 and a market cap of about $2.97 billion.
• Analysts have been raising targets (HC Wainwright to $27.00) and the stock has 10 Buys, 1 Hold and 1 Sell, giving a consensus rating of Moderate Buy and a consensus target price of $20.67.
• The company remains unprofitable (quarterly EPS -$0.29, net margin -151%, FY EPS estimate -1.19) and insiders sold 172,884 shares worth roughly $2.54 million in the last quarter, including executive sales.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $19.95, but opened at $21.00. Tango Therapeutics shares last traded at $20.3840, with a volume of 834,114 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright raised their price objective on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, March 6th. Jefferies Financial Group restated a "buy" rating and issued a $18.00 price objective on shares of Tango Therapeutics in a research report on Thursday, March 5th. Wedbush raised their price objective on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Finally, Piper Sandler raised their price objective on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

Tango Therapeutics Stock Performance

The firm's 50-day moving average price is $16.00 and its 200 day moving average price is $11.64. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -23.88 and a beta of 1.31.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) 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, equities research analysts predict that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, CFO Daniella Beckman sold 10,317 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the transaction, the chief financial officer owned 184,297 shares in the company, valued at approximately $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Crystal sold 27,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $21.20, for a total transaction of $572,400.00. Following the transaction, the insider owned 112,622 shares of the company's stock, valued at approximately $2,387,586.40. This represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 172,884 shares of company stock worth $2,538,342 in the last quarter. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in Tango Therapeutics by 30.7% during the second 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 period. Russell Investments Group Ltd. grew its holdings in Tango Therapeutics by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company's stock valued at $87,000 after purchasing an additional 2,065 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tango Therapeutics by 52.2% during the fourth 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 period. China Universal Asset Management Co. Ltd. grew its holdings in Tango Therapeutics by 12.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company's stock valued at $194,000 after purchasing an additional 2,444 shares during the period. Finally, Barclays PLC grew its holdings in Tango Therapeutics by 0.7% during the fourth quarter. Barclays PLC now owns 368,187 shares of the company's stock valued at $3,262,000 after purchasing an additional 2,507 shares during the period. 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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