Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) PT at $11.00

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Wall Street Zen raised Tango Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Guggenheim raised their price objective on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Piper Sandler started coverage on Tango Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $11.00 price objective for the company.

Tango Therapeutics Price Performance

Shares of NASDAQ:TNGX opened at $7.87 on Friday. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $9.70. The business’s 50-day moving average is $7.71 and its 200-day moving average is $5.64. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -8.46 and a beta of 1.66.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The business had revenue of $53.81 million during the quarter, compared to analysts’ expectations of $41.35 million. Analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current year.

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $7.01, for a total value of $7,711,000.00. Following the transaction, the insider directly owned 15,759,075 shares of the company’s stock, valued at approximately $110,471,115.75. This trade represents a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,472,501 shares of company stock worth $26,350,320 in the last 90 days. Corporate insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TNGX. CWM LLC grew its position in Tango Therapeutics by 182.2% in the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after purchasing an additional 3,167 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Tango Therapeutics by 139.7% in the 1st 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 last quarter. Legal & General Group Plc grew its holdings in shares of Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after acquiring an additional 1,640 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after acquiring an additional 3,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Tango Therapeutics by 44.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after acquiring an additional 2,907 shares during the last quarter. 78.99% of the stock is owned by 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.