Tango Therapeutics (NASDAQ:TNGX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on Tango Therapeutics from $15 to $24 with a "buy" rating (implying ~41.6% upside), and several other firms also lifted targets, leaving a consensus rating of "Moderate Buy" and an average price target of $19.38.
• Tango trades around $16.95 with a $2.42B market cap but remains unprofitable (negative EPS and margins despite a slight quarterly beat); insiders sold ~113,633 shares over the last 90 days while institutional ownership is about 79%.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) had its price target raised by analysts at Stifel Nicolaus from $15.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 41.59% from the company's previous close.

TNGX has been the topic of a number of other research reports. HC Wainwright increased their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday. Guggenheim boosted their target price on Tango Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler upped their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $18.00 price target on shares of Tango Therapeutics in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.38.

Tango Therapeutics Trading Up 0.7%

Tango Therapeutics stock opened at $16.95 on Monday. The business's 50 day simple moving average is $11.86 and its 200 day simple moving average is $9.48. Tango Therapeutics has a 12 month low of $1.03 and a 12 month high of $17.63. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -19.48 and a beta of 1.76.

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

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 54,345 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the transaction, the insider directly owned 132,873 shares of the company's stock, valued at approximately $1,696,788.21. This trade represents a 29.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barbara Weber sold 30,519 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the completion of the sale, the director owned 1,629,254 shares of the company's stock, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,633 shares of company stock valued at $1,420,857 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of Tango Therapeutics in the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Tango Therapeutics by 139.7% during the 1st 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 grew its holdings in shares of 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. Ameritas Investment Partners Inc. raised its position in Tango Therapeutics by 78.8% in the 2nd 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, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tango Therapeutics by 148,800.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company's stock worth $40,000 after purchasing an additional 4,464 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

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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