Tango Therapeutics, Inc. (NASDAQ:TNGX) Stock Has Consensus Price Target of $43.46 According to Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $43.46.

Several brokerages have recently issued reports on TNGX. Canaccord Genuity Group increased their price objective on shares of Tango Therapeutics from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Mizuho boosted their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wall Street Zen cut Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, HC Wainwright lifted their target price on Tango Therapeutics from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $24.47, for a total value of $660,690.00. Following the sale, the insider owned 115,743 shares in the company, valued at $2,832,231.21. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessica Newcomb sold 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $24.22, for a total value of $198,604.00. Following the completion of the transaction, the insider directly owned 59,121 shares of the company’s stock, valued at $1,431,910.62. This represents a 12.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TNGX. TRV GP IV LLC bought a new position in shares of Tango Therapeutics during the 2nd quarter worth approximately $120,181,383,000. BlackRock Inc. purchased a new position in shares of Tango Therapeutics in the second quarter worth about $388,826,000. Jupiter Topco LLC purchased a new stake in shares of Tango Therapeutics during the second quarter worth $157,989,000. Seven Fleet Capital Management LP grew its holdings in Tango Therapeutics by 302.2% during the 2nd quarter. Seven Fleet Capital Management LP now owns 3,228,144 shares of the company’s stock valued at $95,661,000 after buying an additional 2,425,484 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Tango Therapeutics during the second quarter valued at approximately $62,849,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $22.04 on Friday. The business has a 50 day simple moving average of $23.87 and a 200 day simple moving average of $25.11. Tango Therapeutics has a one year low of $6.69 and a one year high of $34.39. The company has a market capitalization of $3.72 billion, a PE ratio of -25.93 and a beta of 1.17.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Equities analysts anticipate that Tango Therapeutics will post -1.41 earnings per share for the current fiscal year.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities and activate the immune system against tumors. The company uses functional genomics, including CRISPR-based screening, to identify genetic dependencies that may be selectively targeted in cancer cells while limiting effects on healthy tissue.

Tango’s research and development programs include small-molecule therapies and immuno-oncology candidates designed to address genetically defined cancers.