Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Rating of “Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given an average recommendation of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $12.33.

Separately, HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Tango Therapeutics in a report on Monday.

Tango Therapeutics Price Performance

TNGX stock opened at $1.38 on Monday. The firm has a market capitalization of $149.41 million, a P/E ratio of -1.17 and a beta of 1.03. The company’s 50 day simple moving average is $1.96 and its 200-day simple moving average is $3.45. Tango Therapeutics has a 52-week low of $1.11 and a 52-week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). The business had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. Sell-side analysts predict that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the completion of the transaction, the chief executive officer now directly owns 1,631,264 shares in the company, valued at $4,877,479.36. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 24,268 shares of company stock worth $72,561 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Tango Therapeutics in the 4th quarter worth $33,000. Stonebrook Private Inc. purchased a new position in shares of Tango Therapeutics during the fourth quarter valued at $34,000. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics during the 4th quarter valued at about $35,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth about $38,000. Finally, Squarepoint Ops LLC purchased a new stake in Tango Therapeutics during the fourth quarter worth $40,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.