Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 7.1% - Time to Buy?

Key Points

• Shares jumped 7.1% to $22.46 on Monday on light trading (≈406,741 shares vs. a ~3.28M average), and analysts carry a consensus rating of "Moderate Buy" with a consensus target of $22.44.
• Tango is a clinical‑stage biotech with a $3.28 billion market cap, negative earnings (Q1 EPS -$0.29, beating -$0.31) and a negative net margin of 151%, with analysts projecting about -1.35 EPS for the year.
• Insiders sold roughly 211,344 shares (~$3.5M) last quarter (insiders own 7.5%), while large institutions like Adage, Farallon, Vanguard and State Street materially increased holdings, leaving institutions with ~79% ownership.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares rose 7.1% during trading on Monday . The company traded as high as $22.70 and last traded at $22.4630. Approximately 406,741 shares were traded during trading, a decline of 88% from the average daily volume of 3,275,212 shares. The stock had previously closed at $20.98.

Analysts Set New Price Targets

TNGX has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. B. Riley Financial reaffirmed a "buy" rating on shares of Tango Therapeutics in a research report on Friday, March 27th. Guggenheim upped their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 6th. Citigroup reaffirmed a "buy" rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Finally, Canaccord Genuity Group initiated coverage on shares of Tango Therapeutics in a research report on Thursday, April 2nd. They set a "buy" rating and a $30.00 price objective on the stock. Eleven equities 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. According to data from MarketBeat, Tango Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.44.

Tango Therapeutics Stock Performance

The company has a market cap of $3.28 billion, a price-to-earnings ratio of -26.10 and a beta of 1.22. The stock's fifty day moving average is $19.50 and its two-hundred day moving average is $13.34.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share 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%. On average, equities research analysts expect that Tango Therapeutics, Inc. will post -1.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Barbara Weber sold 30,519 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 value of $374,162.94. Following the sale, the director owned 1,629,254 shares in the company, valued at $19,974,654.04. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Crystal sold 38,460 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total transaction of $961,500.00. Following the completion of the sale, the insider owned 112,622 shares in the company, valued at $2,815,550. This represents a 25.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,344 shares of company stock worth $3,499,842 in the last quarter. Insiders own 7.50% of the company's stock.

Institutional Investors Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farallon Capital Management LLC increased its stake in Tango Therapeutics by 21.4% in the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company's stock valued at $115,724,000 after buying an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Tango Therapeutics by 322.5% in the 4th 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 buying an additional 8,096,924 shares during the last quarter. Siren L.L.C. increased its stake in Tango Therapeutics by 38.8% in the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company's stock valued at $72,345,000 after buying an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. increased its stake in Tango Therapeutics by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company's stock valued at $59,814,000 after buying an additional 1,698,974 shares during the last quarter. Finally, State Street Corp increased its stake in Tango Therapeutics by 84.8% in the 4th quarter. State Street Corp now owns 6,218,567 shares of the company's stock valued at $55,097,000 after buying an additional 2,853,362 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.