B. Riley Lowers Tango Therapeutics (NASDAQ:TNGX) Price Target to $8.00

Tango Therapeutics (NASDAQ:TNGX) had its price target trimmed by B. Riley from $16.00 to $8.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.36) EPS, FY2024 earnings at ($1.21) EPS and FY2025 earnings at ($1.49) EPS.

Several other analysts also recently commented on the company. Jefferies Financial Group assumed coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday, November 8th. Guggenheim decreased their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Wedbush raised their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $13.14.

Tango Therapeutics Trading Up 10.1 %

TNGX stock opened at $3.92 on Monday. The firm has a market cap of $421.09 million, a PE ratio of -3.32 and a beta of 0.88. The stock has a 50-day moving average price of $6.94 and a 200-day moving average price of $8.20. Tango Therapeutics has a 1-year low of $2.70 and a 1-year high of $13.01.

Insider Transactions at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the sale, the insider now owns 3,610,642 shares of the company’s stock, valued at approximately $11,337,415.88. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now owns 16,859,075 shares in the company, valued at approximately $177,526,059.75. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,830,400 shares of company stock worth $23,835,132 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNGX. Vanguard Group Inc. raised its position in shares of Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares during the period. Artal Group S.A. bought a new position in shares of Tango Therapeutics in the first quarter worth $17,427,000. Charles Schwab Investment Management Inc. grew its position in shares of Tango Therapeutics by 18.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company’s stock valued at $3,752,000 after purchasing an additional 76,540 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $3,836,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Tango Therapeutics by 42.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company’s stock worth $2,882,000 after purchasing an additional 100,257 shares in the last quarter. 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.