Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $20.00 at Guggenheim

Tango Therapeutics (NASDAQ:TNGX) had its target price lifted by equities research analysts at Guggenheim from $18.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 19.05% from the company’s current price.

A number of other research firms have also commented on TNGX. B. Riley Financial boosted their price target on shares of Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. HC Wainwright lifted their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Thursday. Wolfe Research began coverage on Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.14.

Tango Therapeutics Stock Up 36.0%

Shares of TNGX opened at $16.80 on Friday. The company has a 50-day moving average price of $11.70 and a two-hundred day moving average price of $9.37. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -18.06 and a beta of 1.76. Tango Therapeutics has a 12 month low of $1.03 and a 12 month high of $16.97.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 54,345 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the transaction, the insider owned 132,873 shares of the company’s stock, valued at $1,696,788.21. This represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Weber sold 30,519 shares of Tango Therapeutics stock in a transaction dated 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 owned 1,629,254 shares of the company’s stock, valued at approximately $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,633 shares of company stock worth $1,420,857 over the last 90 days. 7.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Tango Therapeutics by 138.8% in the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock valued at $97,000 after acquiring an additional 40,983 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at $195,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the period. Woodline Partners LP grew its stake in shares of Tango Therapeutics by 28.3% during the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after purchasing an additional 111,791 shares during the period. Finally, Jane Street Group LLC increased its holdings in Tango Therapeutics by 270.6% in the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock valued at $483,000 after purchasing an additional 257,668 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

About Tango Therapeutics

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.