Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.1538.

A number of equities research analysts recently commented on TNGX shares. B. Riley Financial restated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Weiss Ratings cut Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Jefferies Financial Group upgraded Tango Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $60.00 in a research note on Thursday, June 25th. Finally, UBS Group set a $55.00 price objective on Tango Therapeutics in a report on Thursday, May 14th.

Tango Therapeutics Stock Performance

Shares of Tango Therapeutics stock opened at $27.07 on Monday. Tango Therapeutics has a one year low of $6.25 and a one year high of $34.39. The company has a market cap of $3.92 billion, a P/E ratio of -32.61 and a beta of 1.16. The firm has a fifty day moving average of $28.47 and a two-hundred day moving average of $21.82.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). As a group, equities analysts predict that Tango Therapeutics will post -1.27 earnings per share for the current 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Tango Therapeutics in the second quarter valued at about $388,826,000. Deutsche Bank AG acquired a new position in Tango Therapeutics during the second quarter worth about $4,516,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Tango Therapeutics in the second quarter valued at about $252,000. Persistent Asset Partners Ltd purchased a new position in Tango Therapeutics in the second quarter valued at about $258,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at approximately $122,000. Hedge funds and other 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.