Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $18.00

Tango Therapeutics (NASDAQ:TNGX) had its target price upped by Guggenheim from $12.00 to $18.00 in a research note released on Friday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on TNGX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Stifel Nicolaus began coverage on shares of Tango Therapeutics in a research note on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Wolfe Research initiated coverage on Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler boosted their price target on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Tango Therapeutics Trading Up 4.7%

Shares of NASDAQ TNGX opened at $12.51 on Friday. The stock has a market cap of $1.68 billion, a P/E ratio of -13.45 and a beta of 1.75. Tango Therapeutics has a twelve month low of $1.03 and a twelve month high of $13.46. The stock has a 50 day moving average of $10.40 and a two-hundred day moving average of $8.61.

Insider Activity

In other news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the transaction, the chief financial officer directly owned 184,297 shares in the company, valued at $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Weber sold 30,519 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,288 shares of company stock valued at $726,871 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently modified their holdings of the business. Farallon Capital Management LLC boosted its stake in shares of Tango Therapeutics by 17.5% in the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after buying an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. raised its position in Tango Therapeutics by 33.6% in the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after acquiring an additional 1,698,974 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Tango Therapeutics in the second quarter valued at $30,235,000. Balyasny Asset Management L.P. boosted its position in shares of Tango Therapeutics by 6.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 3,472,207 shares of the company’s stock worth $29,167,000 after purchasing an additional 224,744 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its position in shares of Tango Therapeutics by 15.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock worth $17,611,000 after purchasing an additional 451,611 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

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.