Leerink Partners Increases Tango Therapeutics (NASDAQ:TNGX) Price Target to $69.00

Tango Therapeutics (NASDAQ:TNGX) had its target price lifted by stock analysts at Leerink Partners from $55.00 to $69.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 119.15% from the stock’s current price.

Several other brokerages have also recently weighed in on TNGX. HC Wainwright lifted their price target on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Canaccord Genuity Group started coverage on Tango Therapeutics in a research report on Thursday, April 2nd. They set a “buy” rating and a $30.00 target price on the stock. Wolfe Research set a $35.00 price target on Tango Therapeutics in a research note on Monday. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday. Finally, Guggenheim raised their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tango Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $34.17.

Tango Therapeutics Trading Up 55.7%

Shares of TNGX traded up $11.27 during midday trading on Monday, hitting $31.49. 16,748,655 shares of the company’s stock traded hands, compared to its average volume of 3,329,360. The firm’s fifty day moving average is $22.43 and its 200-day moving average is $15.66. Tango Therapeutics has a 1 year low of $3.77 and a 1 year high of $32.09. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of -38.40 and a beta of 1.19.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. On average, equities research analysts anticipate that Tango Therapeutics will post -1.29 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $22.87, for a total value of $617,490.00. Following the completion of the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,647,042.41. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 131,460 shares of company stock valued at $2,965,920. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd raised 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 valued at $35,000 after purchasing an additional 15,037 shares during the period. Legal & General Group Plc lifted its stake in shares of Tango Therapeutics by 30.7% in 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after purchasing an additional 4,464 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Tango Therapeutics during the 4th quarter worth $40,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.