Tango Therapeutics (NASDAQ:TNGX) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a report published on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $46.00 target price on the stock.

Several other brokerages have also issued reports on TNGX. Piper Sandler lowered Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $24.00 in a research note on Thursday, May 14th. Citigroup restated a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. HC Wainwright upped their price objective on shares of Tango Therapeutics from $27.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Jefferies Financial Group upgraded Tango Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $60.00 in a research note on Thursday, June 25th. Finally, Mizuho set a $36.00 price target on shares of Tango Therapeutics in a research report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.85.

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $30.25 on Wednesday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -36.45 and a beta of 1.12. The stock has a fifty day moving average of $26.47 and a 200 day moving average of $19.76. Tango Therapeutics has a 52-week low of $5.77 and a 52-week high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). Equities analysts forecast that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the completion of the sale, the insider directly owned 115,743 shares in the company, valued at approximately $3,424,835.37. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 81,000 shares of company stock valued at $1,989,630. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of large investors have recently made changes to their positions in the company. Farallon Capital Management LLC lifted its stake in shares of Tango Therapeutics by 21.4% in the 4th quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after purchasing an additional 2,304,411 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after buying an additional 8,096,924 shares during the period. Siren L.L.C. increased its holdings in Tango Therapeutics by 38.8% during the fourth quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock valued at $72,345,000 after buying an additional 2,282,186 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tango Therapeutics by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock valued at $59,814,000 after buying an additional 1,698,974 shares during the last quarter. Finally, State Street Corp raised its position in Tango Therapeutics by 84.8% in the fourth quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after acquiring an additional 2,853,362 shares during the period. 78.99% of the stock is currently owned by 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.