Tango Therapeutics (NASDAQ:TNGX) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

Several other research firms have also weighed in on TNGX. Wall Street Zen lowered Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Wedbush lifted their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Jefferies Financial Group restated a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a report on Thursday, March 5th. Piper Sandler boosted their price target on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, 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. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Tango Therapeutics Stock Performance

TNGX stock opened at $21.63 on Thursday. The business’s 50 day moving average is $15.14 and its 200-day moving average is $11.18. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $22.20. The firm has a market cap of $3.09 billion, a P/E ratio of -24.86 and a beta of 1.31.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. Sell-side analysts forecast that Tango Therapeutics will post -1.19 EPS for the current year.

Insider Buying and Selling at Tango Therapeutics

In other news, CFO Daniella Beckman sold 10,317 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the transaction, the chief financial officer directly owned 184,297 shares of the company’s stock, valued at $2,259,481.22. The trade was a 5.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara Weber sold 30,519 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 172,884 shares of company stock valued at $2,538,342. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Tango Therapeutics in the fourth quarter valued at $35,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after buying an additional 15,037 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after acquiring an additional 1,640 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock worth $40,000 after purchasing an additional 3,452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $40,000 after acquiring an additional 4,464 shares during the period. Institutional investors own 78.99% of the company’s stock.

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.