Tango Therapeutics (NASDAQ:TNGX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Tango Therapeutics from “sell” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $43.31.
• Tango shares opened at $25.60, with a 52-week range of $6.25 to $34.39 and a market capitalization of approximately $4.32 billion.
• The company reported a quarterly loss of $0.37 per share, missing analysts’ estimate of a $0.32 loss; analysts expect a full-year loss of $1.34 per share.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

A number of other research firms also recently commented on TNGX. UBS Group set a $55.00 target price on Tango Therapeutics in a report on Thursday, May 14th. Piper Sandler lowered Tango Therapeutics from an "overweight" rating to a "neutral" rating and upped their price target for the company from $16.00 to $24.00 in a research report on Thursday, May 14th. JPMorgan Chase & Co. started coverage on Tango Therapeutics in a research note on Wednesday, July 15th. They set an "overweight" rating and a $46.00 price objective on the stock. Wolfe Research set a $35.00 price objective on shares of Tango Therapeutics and gave the stock an "outperform" rating in a report on Monday, June 8th. Finally, Wedbush lifted their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.31.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $25.60 on Friday. Tango Therapeutics has a 1 year low of $6.25 and a 1 year high of $34.39. The firm's 50-day simple moving average is $28.92 and its 200-day simple moving average is $22.24. The firm has a market cap of $4.32 billion, a PE ratio of -30.12 and a beta of 1.16.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). On average, equities analysts predict that Tango Therapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Tango Therapeutics

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its position in Tango Therapeutics by 138.8% during the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company's stock valued at $97,000 after purchasing an additional 40,983 shares during the period. AQR Capital Management LLC acquired a new stake in Tango Therapeutics in the first quarter worth $195,000. Dynamic Technology Lab Private Ltd increased its position in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after buying an additional 15,037 shares during the period. Woodline Partners LP lifted its stake in Tango Therapeutics by 28.3% in the first quarter. Woodline Partners LP now owns 506,188 shares of the company's stock valued at $693,000 after buying an additional 111,791 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Tango Therapeutics by 270.6% in the first quarter. Jane Street Group LLC now owns 352,897 shares of the company's stock valued at $483,000 after buying an additional 257,668 shares during the last quarter. 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.

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