Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 6% on Analyst Upgrade

Tango Therapeutics, Inc. (NASDAQ:TNGX) was up 6% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $47.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Tango Therapeutics traded as high as $24.60 and last traded at $24.10. Approximately 2,276,197 shares were traded during mid-day trading, a decline of 35% from the average session volume of 3,483,010 shares. The stock had previously closed at $22.74.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus set a $55.00 price objective on Tango Therapeutics in a research report on Friday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of Tango Therapeutics in a research report on Tuesday. Wedbush dropped their price target on shares of Tango Therapeutics from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday. HC Wainwright reduced their price objective on shares of Tango Therapeutics from $68.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, William Blair assumed coverage on shares of Tango Therapeutics in a report on Friday, October 16th. They set an “outperform” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.54.

Insider Transactions at Tango Therapeutics

In related news, insider Jessica Newcomb sold 8,200 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total transaction of $198,604.00. Following the sale, the insider owned 59,121 shares of the company’s stock, valued at $1,431,910.62. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total value of $660,690.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,832,231.21. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,231 shares of company stock valued at $1,129,029 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Key Stories Impacting Tango Therapeutics

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: The company reported promising Phase 1/2 results for vopimetostat plus daraxonrasib in second- and third-line pancreatic cancer: an 82% objective response rate and 88% nine-month progression-free survival. Tango expects to start a registrational Phase 3 study in first-line MTAP-deleted pancreatic cancer in the first half of 2027. Tango Therapeutics Q3 2026 results and business highlights
• Positive Sentiment: JPMorgan raised its price target to $47 from $46 and maintained an Overweight rating, signaling continued confidence in TNGX’s prospects. JPMorgan recommendations
• Positive Sentiment: Tango reported $977.5 million in cash as of September 30, 2026, providing substantial funding for its clinical development plans. Tango Therapeutics Q3 2026 results and business highlights
• Negative Sentiment: Wedbush cut its target to $40 from $45, though it kept an Outperform rating. HC Wainwright also lowered its target, to $67 from $68, while maintaining a Buy rating. Wedbush recommendations HC Wainwright recommendations
• Negative Sentiment: Third-quarter EPS was a loss of $0.39, wider than analysts’ expected loss of $0.35, a modest earnings disappointment. Tango Therapeutics earnings press release

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nykredit A S purchased a new position in Tango Therapeutics in the second quarter worth $26,000. Allworth Financial LP bought a new position in Tango Therapeutics in the 2nd quarter worth $35,000. Global Retirement Partners LLC purchased a new stake in Tango Therapeutics in the 2nd quarter worth approximately $122,000. Sterling Capital Management LLC increased its holdings in shares of Tango Therapeutics by 838.8% in the 3rd quarter. Sterling Capital Management LLC now owns 4,647 shares of the company’s stock worth $116,000 after buying an additional 4,152 shares during the last quarter. Finally, ACT Capital Partners L.P. bought a new stake in Tango Therapeutics during the 3rd quarter valued at about $150,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

The business’s fifty day moving average price is $23.32 and its two-hundred day moving average price is $22.53. The firm has a market capitalization of $4.05 billion, a P/E ratio of -28.35 and a beta of 1.26.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). Sell-side analysts predict that Tango Therapeutics, Inc. will post -1.41 earnings per share for the current year.

About Tango Therapeutics

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.