Tango Therapeutics (NASDAQ:TNGX) Raised to “Hold” at Wall Street Zen

Tango Therapeutics (NASDAQ:TNGX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other brokerages have also recently commented on TNGX. Piper Sandler assumed coverage on Tango Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $11.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Finally, Guggenheim upped their target price on Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tango Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Tango Therapeutics Trading Down 1.7%

TNGX stock opened at $7.87 on Friday. Tango Therapeutics has a one year low of $1.03 and a one year high of $9.70. The firm has a 50-day moving average of $7.71 and a two-hundred day moving average of $5.70. The firm has a market capitalization of $1.06 billion, a PE ratio of -8.46 and a beta of 1.66.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. On average, equities research analysts anticipate that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Activity at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $7.01, for a total value of $7,711,000.00. Following the transaction, the insider directly owned 15,759,075 shares of the company’s stock, valued at approximately $110,471,115.75. This trade represents a 6.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 3,472,501 shares of company stock worth $26,350,320. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after buying an additional 3,167 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after acquiring an additional 15,037 shares during the period. Legal & General Group Plc boosted its holdings in Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after acquiring an additional 1,640 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Tango Therapeutics by 78.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Tango Therapeutics by 44.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock worth $49,000 after purchasing an additional 2,907 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.