Analysts Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Target Price at $38.42

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $38.4167.

TNGX has been the subject of several research analyst reports. Guggenheim increased their price objective 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. Canaccord Genuity Group increased their price objective on shares of Tango Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. HC Wainwright increased their price objective on shares of Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Finally, Wall Street Zen lowered shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 38,460 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total transaction of $961,500.00. Following the completion of the transaction, the insider directly owned 112,622 shares of the company’s stock, valued at approximately $2,815,550. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 131,460 shares of company stock worth $2,965,920. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Tango Therapeutics during the 4th quarter worth approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Tango Therapeutics during the 4th quarter worth approximately $40,000. State of Wyoming purchased a new position in Tango Therapeutics during the 1st quarter worth approximately $128,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Tango Therapeutics by 52.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Stock Down 13.4%

Shares of Tango Therapeutics stock opened at $27.97 on Friday. The firm has a market capitalization of $4.05 billion, a P/E ratio of -33.70 and a beta of 1.19. The company has a 50 day moving average price of $24.30 and a 200 day moving average price of $16.99. Tango Therapeutics has a 52 week low of $4.60 and a 52 week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. As a group, research analysts anticipate that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

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.