Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $30.00 at Mizuho

Tango Therapeutics (NASDAQ:TNGX) had its price objective lifted by Mizuho from $20.00 to $30.00 in a report released on Friday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Piper Sandler downgraded shares of 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 report on Thursday. Wall Street Zen downgraded shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Leerink Partners upped their target price on shares of Tango Therapeutics from $28.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their target price on shares of Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.27.

Tango Therapeutics Trading Down 17.3%

Shares of Tango Therapeutics stock opened at $20.56 on Friday. The company’s fifty day simple moving average is $21.58 and its two-hundred day simple moving average is $14.24. The company has a market cap of $2.97 billion, a P/E ratio of -24.77 and a beta of 1.22. Tango Therapeutics has a 12-month low of $1.40 and a 12-month high of $28.41.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting 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%. Analysts predict that Tango Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, insider Adam Crystal sold 54,345 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the transaction, the insider owned 132,873 shares in the company, valued at $1,696,788.21. The trade was a 29.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 179,056 shares of company stock valued at $3,346,181. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted 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 valued at $93,986,000 after acquiring an additional 8,096,924 shares during the period. Caligan Partners LP bought a new position in Tango Therapeutics during the 4th quarter valued at about $33,047,000. Goldman Sachs Group Inc. lifted 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 valued at $43,790,000 after acquiring an additional 3,432,939 shares during the period. Logos Global Management LP lifted 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 valued at $37,212,000 after acquiring an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new position in Tango Therapeutics during the 3rd quarter valued at about $25,924,000. 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.