Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.80.

TNGX has been the topic of a number of recent analyst reports. Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Guggenheim upped their target price on Tango Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Piper Sandler raised their price target on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. B. Riley Financial lifted their price target on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st.

Tango Therapeutics Price Performance

NASDAQ:TNGX opened at $12.90 on Monday. The firm has a market cap of $1.74 billion, a PE ratio of -13.87 and a beta of 1.75. The firm has a 50 day simple moving average of $10.68 and a 200-day simple moving average of $8.80. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $13.48.

Insiders Place Their Bets

In related news, Director Barbara Weber sold 30,519 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the transaction, the director directly owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Crystal sold 18,452 shares of Tango Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $226,221.52. Following the completion of the transaction, the insider owned 187,218 shares in the company, valued at $2,295,292.68. The trade was a 8.97% decrease in their position. 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. Company 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 company. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tango Therapeutics during the 2nd quarter worth about $30,235,000. Goldman Sachs Group Inc. lifted its position in Tango Therapeutics by 227.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock valued at $43,790,000 after buying an additional 3,432,939 shares in the last quarter. Paradigm Biocapital Advisors LP acquired a new position in Tango Therapeutics during the third quarter valued at approximately $25,924,000. State Street Corp grew its stake in Tango Therapeutics by 84.8% during the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after buying an additional 2,853,362 shares during the period. Finally, Siren L.L.C. increased its position in shares of Tango Therapeutics by 38.8% in the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock worth $72,345,000 after acquiring an additional 2,282,186 shares in the last quarter. 78.99% of the stock is currently 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.