Tango Therapeutics (NASDAQ:TNGX) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $46.00 price target on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 55.14% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Piper Sandler lowered shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $24.00 in a research note on Thursday, May 14th. Raymond James Financial lowered shares of Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th. Wall Street Zen cut shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research note on Monday, June 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Thirteen equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.85.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $29.65 on Wednesday. The firm has a market capitalization of $4.29 billion, a P/E ratio of -35.72 and a beta of 1.12. Tango Therapeutics has a 1-year low of $5.77 and a 1-year high of $34.39. The company’s 50-day moving average is $26.34 and its 200 day moving average is $19.61.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Research analysts anticipate that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 81,000 shares of company stock worth $1,989,630. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its position in shares of Tango Therapeutics by 322.5% in 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 buying an additional 8,096,924 shares during the last quarter. Caligan Partners LP purchased a new position in Tango Therapeutics during the 4th quarter worth $33,047,000. Goldman Sachs Group Inc. increased its position 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 buying an additional 3,432,939 shares in the last quarter. Logos Global Management LP grew its stake in shares of Tango Therapeutics by 342.1% during the fourth quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after acquiring an additional 3,250,000 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP acquired a new position in shares of Tango Therapeutics during the third quarter valued at about $25,924,000. Institutional investors own 78.99% of the company’s stock.

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.