Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Rating of “Moderate Buy” by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.4167.

A number of brokerages have commented on TNGX. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Jefferies Financial Group downgraded shares of Tango Therapeutics from a “buy” rating to a “hold” rating and increased their target price for the company from $18.00 to $27.00 in a research report on Thursday, May 14th. Stifel Nicolaus increased their target price on shares of Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Mizuho set a $36.00 target price on shares of Tango Therapeutics in a research report on Monday, June 8th. Finally, Wedbush increased their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th.

Tango Therapeutics Stock Up 3.8%

Tango Therapeutics stock opened at $30.94 on Friday. The firm has a market cap of $4.48 billion, a PE ratio of -37.28 and a beta of 1.19. Tango Therapeutics has a 52-week low of $4.40 and a 52-week high of $32.79. The company’s 50 day moving average is $23.46 and its two-hundred day moving average is $16.37.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. On average, equities research analysts anticipate that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 38,460 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total value of $961,500.00. Following the transaction, the insider directly owned 112,622 shares of the company’s stock, valued at $2,815,550. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 131,460 shares of company stock valued at $2,965,920. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its stake in Tango Therapeutics by 322.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after purchasing an additional 8,096,924 shares during the period. Caligan Partners LP acquired a new stake in Tango Therapeutics during the 4th quarter worth $33,047,000. Goldman Sachs Group Inc. boosted its stake in Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after purchasing an additional 3,432,939 shares during the period. Logos Global Management LP boosted its stake in Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after purchasing an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP acquired a new stake in Tango Therapeutics during the 3rd quarter worth $25,924,000. 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.